Kestra Private Wealth Services LLC Increases Stock Position in ResMed Inc. (NYSE:RMD)

Kestra Private Wealth Services LLC raised its holdings in ResMed Inc. (NYSE:RMD) by 116.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,743 shares of the medical equipment provider’s stock after purchasing an additional 4,702 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in ResMed were worth $1,999,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. True Wealth Design LLC raised its position in shares of ResMed by 2,200.0% during the 3rd 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. Ashton Thomas Securities LLC acquired a new position in ResMed in the 3rd quarter valued at $34,000. Rosenberg Matthew Hamilton acquired a new position in ResMed in the 4th quarter valued at $54,000. Capital Performance Advisors LLP acquired a new position in ResMed in the 3rd quarter valued at $60,000. Finally, Venturi Wealth Management LLC raised its holdings in ResMed by 55.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock valued at $83,000 after acquiring an additional 122 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on RMD shares. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Stifel Nicolaus began coverage on ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target for the company. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada boosted their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group began coverage on shares of ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $244.73.

ResMed Stock Down 0.5 %

Shares of ResMed stock opened at $237.45 on Wednesday. The company has a fifty day moving average price of $239.06 and a 200 day moving average price of $238.02. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $263.05. The stock has a market cap of $34.87 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70.

ResMed (NYSE:RMD) last announced 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 net margin of 25.34% and a return on equity of 26.17%. Equities research analysts forecast that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. ResMed’s dividend payout ratio is currently 25.03%.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the sale, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,307 shares of company stock worth $4,403,180 in the last quarter. 0.71% of the stock is owned by corporate insiders.

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.