ResMed Inc. (NYSE:RMD) Shares Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC grew its position in shares of ResMed Inc. (NYSE:RMD) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,570 shares of the medical equipment provider’s stock after purchasing an additional 64 shares during the quarter. HighPoint Advisor Group LLC’s holdings in ResMed were worth $610,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. OFI Invest Asset Management bought a new stake in ResMed in the 4th quarter valued at about $39,000. BankPlus Trust Department acquired a new stake in shares of ResMed in the fourth quarter valued at approximately $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed during the fourth quarter valued at approximately $54,000. SBI Securities Co. Ltd. acquired a new position in shares of ResMed during the fourth quarter worth approximately $67,000. Finally, Kentucky Trust Co bought a new position in ResMed in the 4th quarter worth approximately $82,000. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the topic of several recent analyst reports. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. Stifel Nicolaus lowered their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley started coverage on shares of ResMed in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.73.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is owned by corporate insiders.

ResMed Stock Performance

Shares of NYSE RMD opened at $222.78 on Thursday. The stock’s fifty day simple moving average is $232.37 and its 200 day simple moving average is $237.54. The stock has a market capitalization of $32.72 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.53 and a beta of 0.74. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05.

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

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. ResMed’s dividend payout ratio is currently 25.03%.

ResMed Company Profile

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.