Freedom Investment Management Inc. Makes New Investment in ResMed Inc. (NYSE:RMD)

Freedom Investment Management Inc. purchased a new position in shares of ResMed Inc. (NYSE:RMD) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 918 shares of the medical equipment provider’s stock, valued at approximately $210,000.

A number of other hedge funds have also made changes to their positions in RMD. OFI Invest Asset Management bought a new stake in shares of ResMed during the 4th quarter worth $39,000. BankPlus Trust Department bought a new stake in ResMed during the fourth quarter valued at about $44,000. Rosenberg Matthew Hamilton bought a new stake in ResMed during the fourth quarter valued at about $54,000. SBI Securities Co. Ltd. acquired a new stake in shares of ResMed in the fourth quarter valued at about $67,000. Finally, Kentucky Trust Co bought a new position in shares of ResMed in the fourth quarter worth about $82,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Friday, February 7th. The stock was 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 owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,013 shares of company stock worth $11,298,816. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RMD shares. JPMorgan Chase & Co. raised their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Stifel Nicolaus decreased their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Finally, KeyCorp cut their price objective on shares of ResMed from $280.00 to $269.00 and set an “overweight” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average target price of $250.08.

ResMed Price Performance

ResMed stock opened at $214.40 on Wednesday. The business has a 50 day simple moving average of $222.11 and a 200 day simple moving average of $234.16. 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 company has a market capitalization of $31.49 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. ResMed Inc. has a one year low of $179.00 and a one year high of $263.05.

ResMed (NYSE:RMD) last issued its earnings results 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, sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, February 13th. 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.