HB Wealth Management LLC Purchases 652 Shares of ResMed Inc. (NYSE:RMD)

HB Wealth Management LLC grew its holdings in ResMed Inc. (NYSE:RMD) by 43.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,158 shares of the medical equipment provider’s stock after purchasing an additional 652 shares during the period. HB Wealth Management LLC’s holdings in ResMed were worth $371,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC bought a new stake in ResMed during the third quarter valued at about $26,000. Compass Wealth Management LLC bought a new stake in ResMed during the fourth quarter valued at about $26,000. International Assets Investment Management LLC bought a new stake in ResMed during the third quarter valued at about $27,000. EverSource Wealth Advisors LLC boosted its position in ResMed by 224.6% during the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Finally, Riverview Trust Co boosted its holdings in ResMed by 255.9% in the third quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

RMD has been the subject of several recent analyst reports. KeyCorp initiated coverage on ResMed in a report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price target for the company. JPMorgan Chase & Co. raised their price target on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Needham & Company LLC lifted their target price on ResMed from $180.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada lifted their target price on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a report on Thursday, January 25th. Finally, Mizuho reaffirmed a “buy” rating and set a $215.00 target price on shares of ResMed in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $198.30.

ResMed Trading Up 1.1 %

Shares of RMD stock opened at $196.33 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. The company has a market cap of $28.88 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 2.39 and a beta of 0.65. The stock has a 50 day simple moving average of $184.84 and a 200-day simple moving average of $165.39. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $243.52.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the company earned $1.66 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts expect that ResMed Inc. will post 7.45 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Wednesday, February 7th. ResMed’s dividend payout ratio is currently 31.74%.

Insider Activity at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,216 shares of company stock valued at $2,046,617. 1.21% of the stock is owned by insiders.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.