ResMed Inc. (NYSE:RMD) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its stake in ResMed Inc. (NYSE:RMD) by 101.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,431 shares of the medical equipment provider’s stock after acquiring an additional 2,228 shares during the quarter. Park Avenue Securities LLC’s holdings in ResMed were worth $1,013,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RMD. True Wealth Design LLC lifted its holdings in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in ResMed during the 3rd quarter worth approximately $34,000. Rosenberg Matthew Hamilton acquired a new stake in ResMed during the 4th quarter worth approximately $54,000. Capital Performance Advisors LLP acquired a new stake in ResMed during the 3rd quarter worth approximately $60,000. Finally, Quarry LP lifted its holdings in ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 242 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of NYSE:RMD opened at $239.89 on Tuesday. The company’s fifty day moving average price is $238.51 and its 200 day moving average price is $233.07. ResMed Inc. has a 12 month low of $170.39 and a 12 month high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The firm has a market capitalization of $35.22 billion, a P/E ratio of 31.77, a P/E/G ratio of 1.69 and a beta of 0.70.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the business earned $1.64 EPS. ResMed’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that ResMed Inc. will post 9.36 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.88%. ResMed’s dividend payout ratio is currently 28.08%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RMD. Royal Bank of Canada increased their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. Finally, Robert W. Baird raised their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $233.09.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock worth $2,719,385 in the last ninety days. 0.71% of the stock is owned by corporate 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.