Proficio Capital Partners LLC Takes $220,000 Position in ResMed Inc. (NYSE:RMD)

Proficio Capital Partners LLC purchased a new position in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 963 shares of the medical equipment provider’s stock, valued at approximately $220,000.

A number of other institutional investors have also recently made changes to their positions in RMD. Geode Capital Management LLC lifted its holdings in ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after buying an additional 380,383 shares during the period. Los Angeles Capital Management LLC grew its position in ResMed by 60.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after purchasing an additional 250,746 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after buying an additional 249,454 shares during the last quarter. Nordea Investment Management AB raised its holdings in ResMed by 92.7% in the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after acquiring an additional 215,561 shares during the last quarter. Finally, State Street Corp boosted its position in shares of ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after buying an additional 116,918 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 0.3 %

RMD opened at $222.62 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 company has a market capitalization of $32.69 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The firm has a 50-day simple moving average of $234.10 and a two-hundred day simple moving average of $238.43.

ResMed (NYSE:RMD) last released its quarterly earnings results 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%. Analysts forecast 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 was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of research analyst reports. The Goldman Sachs Group assumed coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Piper Sandler upped their price target on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley assumed coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective for the company. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $249.73.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by insiders.

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.