Catalyst Capital Advisors LLC Acquires Shares of 363 ResMed Inc. (NYSE:RMD)

Catalyst Capital Advisors LLC acquired a new stake in ResMed Inc. (NYSE:RMD) in the fourth quarter, Holdings Channel reports. The fund acquired 363 shares of the medical equipment provider’s stock, valued at approximately $83,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its stake in ResMed by 41.7% in the fourth quarter. Manchester Capital Management LLC now owns 717 shares of the medical equipment provider’s stock valued at $164,000 after acquiring an additional 211 shares during the period. Nations Financial Group Inc. IA ADV acquired a new stake in ResMed in the fourth quarter valued at approximately $1,996,000. AustralianSuper Pty Ltd boosted its position in shares of ResMed by 3,266.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 103,923 shares of the medical equipment provider’s stock valued at $23,766,000 after buying an additional 100,836 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of ResMed by 0.8% during the fourth quarter. New York State Teachers Retirement System now owns 131,971 shares of the medical equipment provider’s stock valued at $30,180,000 after buying an additional 1,046 shares during the last quarter. Finally, Banque Pictet & Cie SA purchased a new position in shares of ResMed during the fourth quarter valued at approximately $4,219,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD opened at $230.68 on Wednesday. The firm has a market cap of $33.88 billion, a PE ratio of 27.23, a PEG ratio of 1.57 and a beta of 0.70. The stock’s fifty day moving average price is $238.28 and its two-hundred day moving average price is $238.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05.

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, 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%. On average, equities research analysts forecast that ResMed Inc. will post 9.44 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. ResMed’s payout ratio is presently 25.03%.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. 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 the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,307 shares of company stock worth $4,403,180 over the last ninety days. 0.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on RMD shares. JPMorgan Chase & Co. lifted their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Royal Bank of Canada lifted their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $244.73.

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.