Integrated Wealth Concepts LLC Acquires 3,909 Shares of ResMed Inc. (NYSE:RMD)

Integrated Wealth Concepts LLC lifted its stake in ResMed Inc. (NYSE:RMD) by 391.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,907 shares of the medical equipment provider’s stock after buying an additional 3,909 shares during the period. Integrated Wealth Concepts LLC’s holdings in ResMed were worth $1,122,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RMD. OFI Invest Asset Management acquired a new stake in shares of ResMed during the fourth quarter worth approximately $39,000. Coppell Advisory Solutions LLC lifted its position in ResMed by 1,750.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 175 shares during the period. BankPlus Trust Department bought a new position in shares of ResMed in the 4th quarter valued at about $44,000. Rosenberg Matthew Hamilton bought a new position in ResMed in the fourth quarter valued at approximately $54,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of ResMed in the 4th quarter worth $67,000. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the topic of several analyst reports. Stifel Nicolaus cut their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley initiated coverage on ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective for the company. KeyCorp set a $274.00 target price on ResMed in a research report on Thursday, April 24th. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $258.83.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value 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 $107,842,105.44. The trade was a 1.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,013 shares of company stock valued at $11,298,816. Insiders own 0.71% of the company’s stock.

ResMed Stock Up 1.5 %

RMD opened at $237.72 on Wednesday. The stock’s fifty day simple moving average is $222.00 and its 200 day simple moving average is $233.98. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The stock has a market cap of $34.91 billion, a PE ratio of 28.07, 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 (NYSE:RMD) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the company posted $2.13 EPS. ResMed’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio (DPR) is currently 23.79%.

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.