Merit Financial Group LLC Purchases Shares of 2,011 ResMed Inc. (NYSE:RMD)

Merit Financial Group LLC acquired a new position in ResMed Inc. (NYSE:RMD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,011 shares of the medical equipment provider’s stock, valued at approximately $460,000.

Other large investors have also recently made changes to their positions in the company. Occidental Asset Management LLC bought a new stake in ResMed during the 4th quarter worth approximately $332,000. Peak Financial Advisors LLC purchased a new stake in shares of ResMed in the fourth quarter worth $2,972,000. Park Avenue Securities LLC raised its position in shares of ResMed by 101.1% during the 4th quarter. Park Avenue Securities LLC now owns 4,431 shares of the medical equipment provider’s stock valued at $1,013,000 after purchasing an additional 2,228 shares during the period. Board of the Pension Protection Fund purchased a new position in shares of ResMed during the 4th quarter valued at $915,000. Finally, Rosenberg Matthew Hamilton bought a new position in ResMed in the 4th quarter worth $54,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In other news, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $491,300.00. Following the transaction, the director now owns 81,218 shares in the company, valued at $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,099 shares of company stock worth $2,719,385. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Performance

Shares of NYSE:RMD opened at $248.90 on Friday. The firm has a fifty day simple moving average of $238.59 and a two-hundred day simple moving average of $233.90. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $36.54 billion, a P/E ratio of 32.97, a PEG ratio of 1.79 and a beta of 0.70. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $260.49.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 earnings per share. On average, analysts expect that ResMed Inc. will post 9.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RMD shares. Royal Bank of Canada raised their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Bank of America boosted their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. Finally, KeyCorp boosted their target price on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ResMed has an average rating of “Hold” and a consensus target price of $233.09.

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.