ResMed Inc. (NYSE:RMD) Shares Purchased by Twin Capital Management Inc.

Twin Capital Management Inc. raised its position in ResMed Inc. (NYSE:RMD) by 111.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,559 shares of the medical equipment provider’s stock after purchasing an additional 1,877 shares during the period. Twin Capital Management Inc.’s holdings in ResMed were worth $814,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Howard Capital Management Inc. increased its stake in ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 45 shares during the period. SkyView Investment Advisors LLC increased its stake in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after acquiring an additional 51 shares during the period. Wedmont Private Capital raised its holdings in ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares in the last quarter. HighPoint Advisor Group LLC lifted its position in ResMed by 2.6% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider’s stock valued at $610,000 after purchasing an additional 64 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in ResMed by 8.1% in the 4th quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock valued at $208,000 after purchasing an additional 68 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total transaction of $439,480.00. Following the completion of the sale, the director now directly owns 73,218 shares of the company’s stock, valued at $16,088,923.32. The trade was a 2.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,004 shares of company stock worth $9,618,128. 0.71% of the stock is owned by company insiders.

ResMed Price Performance

NYSE:RMD opened at $213.06 on Tuesday. The firm has a market cap of $31.29 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. 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 12-month low of $172.19 and a 12-month high of $263.05. The company’s 50-day moving average is $229.90 and its two-hundred day moving average is $236.73.

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

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 1.00%. ResMed’s dividend payout ratio is presently 25.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RMD. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Morgan Stanley initiated coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price on the stock. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. KeyCorp upped their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Stifel Nicolaus decreased their target price on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. 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 given a strong buy rating to the stock. According to data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus price target of $249.73.

ResMed 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.