7,043 Shares in ResMed Inc. (NYSE:RMD) Purchased by Horizon Investment Services LLC

Horizon Investment Services LLC purchased a new stake in ResMed Inc. (NYSE:RMD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,043 shares of the medical equipment provider’s stock, valued at approximately $1,611,000.

A number of other large investors have also recently modified their holdings of RMD. True Wealth Design LLC increased its position in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of ResMed in the 4th quarter worth $39,000. BankPlus Trust Department purchased a new stake in shares of ResMed during the 4th quarter valued at $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed during the 4th quarter worth $54,000. Finally, SBI Securities Co. Ltd. purchased a new position in ResMed in the fourth quarter worth $67,000. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RMD shares. The Goldman Sachs Group assumed coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. Stifel Nicolaus dropped their target price on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley started coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price target on the stock. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $249.73.

ResMed Trading Down 1.2 %

NYSE RMD opened at $219.85 on Friday. The stock has a market cap of $32.29 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The stock has a 50 day simple moving average of $233.70 and a two-hundred day simple moving average of $238.23. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.96%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the sale, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by corporate insiders.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.