LPL Financial LLC Acquires 20,135 Shares of ResMed Inc. (NYSE:RMD)

LPL Financial LLC raised its holdings in ResMed Inc. (NYSE:RMD) by 60.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,342 shares of the medical equipment provider’s stock after buying an additional 20,135 shares during the period. LPL Financial LLC’s holdings in ResMed were worth $12,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Simplify Asset Management Inc. bought a new position in ResMed in the 4th quarter valued at about $6,893,000. Harbor Advisors LLC purchased a new stake in shares of ResMed in the fourth quarter worth approximately $343,000. Fox Run Management L.L.C. purchased a new position in shares of ResMed during the fourth quarter valued at approximately $903,000. KLP Kapitalforvaltning AS bought a new stake in ResMed during the fourth quarter worth $20,411,000. Finally, Hillsdale Investment Management Inc. raised its position in ResMed by 3.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 3,270 shares of the medical equipment provider’s stock valued at $748,000 after buying an additional 100 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RMD has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Morgan Stanley started coverage on shares of ResMed in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.73.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock worth $9,164,385 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

ResMed Stock Up 0.2 %

Shares of NYSE RMD opened at $222.78 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market capitalization of $32.72 billion, a PE ratio of 26.30, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05. The business’s fifty day moving average price is $232.37 and its 200-day moving average price is $237.54.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

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 dividend of $0.53 per share. 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 0.95%. ResMed’s payout ratio is 25.03%.

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.