Wedbush Securities Inc. Has $761,000 Position in ResMed Inc. (NYSE:RMD)

Wedbush Securities Inc. boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 16.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,327 shares of the medical equipment provider’s stock after buying an additional 461 shares during the period. Wedbush Securities Inc.’s holdings in ResMed were worth $761,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Howard Capital Management Inc. raised its holdings in shares of ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after acquiring an additional 45 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in shares of ResMed by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares during the last quarter. Wedmont Private Capital raised its stake in shares of ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares during the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of ResMed by 2.6% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider’s stock valued at $610,000 after purchasing an additional 64 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of ResMed by 8.1% during the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock valued at $208,000 after buying an additional 68 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Activity at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the sale, the insider now owns 9,725 shares in the company, valued at $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $219.74, for a total value of $439,480.00. Following the completion of the transaction, the director now directly owns 73,218 shares of the company’s stock, valued at $16,088,923.32. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,004 shares of company stock worth $9,618,128. 0.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley started coverage on ResMed in a research note on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective on the stock. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Stifel Nicolaus reduced their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lifted their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, KeyCorp upped their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.73.

ResMed Price Performance

Shares of NYSE RMD opened at $213.06 on Tuesday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $229.90 and a two-hundred day simple moving average of $236.73. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. The firm has a market cap of $31.29 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping 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 anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is currently 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.