New Age Alpha Advisors LLC Invests $2.29 Million in ResMed Inc. (NYSE:RMD)

New Age Alpha Advisors LLC bought a new stake in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 10,005 shares of the medical equipment provider’s stock, valued at approximately $2,288,000.

Several other institutional investors have also recently bought and sold shares of RMD. True Wealth Design LLC grew 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 valued at $28,000 after purchasing an additional 110 shares during the last quarter. OFI Invest Asset Management bought a new stake in ResMed during the 4th quarter valued at approximately $39,000. BankPlus Trust Department acquired a new stake in ResMed in the 4th quarter valued at approximately $44,000. Rosenberg Matthew Hamilton bought a new position in ResMed in the 4th quarter worth approximately $54,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of ResMed during the fourth quarter worth approximately $67,000. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In related news, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. This represents a 50.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock worth $9,164,385 in the last three months. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of research reports. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley began coverage on ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price on the stock. KeyCorp upped their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus price target of $249.73.

ResMed Stock Down 1.2 %

Shares of NYSE RMD opened at $219.85 on Friday. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The business has a fifty day moving average of $233.70 and a two-hundred day moving average of $238.13. The stock has a market cap of $32.29 billion, a PE ratio of 25.96, a PEG ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

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.