Jones Financial Companies Lllp Grows Stock Holdings in ResMed Inc. (NYSE:RMD)

Jones Financial Companies Lllp raised its position in ResMed Inc. (NYSE:RMD) by 38.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,888 shares of the medical equipment provider’s stock after purchasing an additional 523 shares during the quarter. Jones Financial Companies Lllp’s holdings in ResMed were worth $432,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. True Wealth Design LLC lifted its stake in ResMed by 2,200.0% during the third 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 in the last quarter. Ashton Thomas Securities LLC purchased a new stake in ResMed in the third quarter valued at $34,000. BankPlus Trust Department acquired a new stake in shares of ResMed in the 4th quarter valued at about $44,000. Rosenberg Matthew Hamilton acquired a new position in shares of ResMed in the 4th quarter valued at $54,000. Finally, Kentucky Trust Co acquired a new stake in shares of ResMed during the fourth quarter worth about $82,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $237.42 on Tuesday. The business has a 50 day moving average price of $236.86 and a two-hundred day moving average price of $240.13. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The firm has a market cap of $34.87 billion, a PE ratio of 28.03, a price-to-earnings-growth 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 (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating 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%. Sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Analysts Set New Price Targets

Several analysts have recently commented on RMD shares. The Goldman Sachs Group began coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. KeyCorp increased their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned 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 $243.82.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,186 shares of company stock worth $4,996,646 in the last three months. 0.71% of the stock is owned by 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.