Raymond James Financial Inc. Purchases New Position in ResMed Inc. (NYSE:RMD)

Raymond James Financial Inc. purchased a new stake in ResMed Inc. (NYSE:RMD) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 41,795 shares of the medical equipment provider’s stock, valued at approximately $9,558,000.

Several other large investors have also recently added to or reduced their stakes in RMD. True Wealth Design LLC increased its holdings in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares in the last quarter. BankPlus Trust Department acquired a new stake in shares of ResMed during the fourth quarter valued at about $44,000. Rosenberg Matthew Hamilton acquired a new stake in shares of ResMed during the fourth quarter valued at about $54,000. SBI Securities Co. Ltd. acquired a new stake in shares of ResMed during the fourth quarter valued at about $67,000. Finally, Kentucky Trust Co acquired a new stake in shares of ResMed during the fourth quarter valued at about $82,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total value of $455,420.00. Following the sale, the director now directly owns 75,218 shares in the company, valued at approximately $17,127,890.78. This trade represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock valued at $9,164,385 over the last quarter. Insiders own 0.71% of the company’s stock.

ResMed Stock Performance

Shares of NYSE RMD opened at $219.77 on Friday. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $234.91 and its two-hundred day moving average price is $239.06. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The stock has a market capitalization of $32.28 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. ResMed’s dividend payout ratio is currently 25.03%.

Analysts Set New Price Targets

RMD has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on ResMed in a research note on Wednesday. They set an “overweight” rating and a $280.00 target price for the company. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $246.83.

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.