ResMed Inc. (NYSE:RMD) Shares Purchased by JT Stratford LLC

JT Stratford LLC lifted its holdings in ResMed Inc. (NYSE:RMD) by 75.4% during the fourth quarter, Holdings Channel reports. The fund owned 10,447 shares of the medical equipment provider’s stock after buying an additional 4,491 shares during the quarter. JT Stratford LLC’s holdings in ResMed were worth $2,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Howard Capital Management Inc. lifted its stake in shares of ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after buying an additional 45 shares in the last quarter. Faithward Advisors LLC lifted its stake in shares of ResMed by 4.3% in the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider’s stock worth $292,000 after buying an additional 53 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its stake in shares of ResMed by 4.6% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 1,356 shares of the medical equipment provider’s stock worth $310,000 after buying an additional 60 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake 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 worth $610,000 after buying an additional 64 shares in the last quarter. Finally, Commerce Bank raised its stake in ResMed by 1.1% during the fourth quarter. Commerce Bank now owns 6,448 shares of the medical equipment provider’s stock worth $1,475,000 after purchasing an additional 73 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $245.65 on Thursday. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The stock has a market cap of $36.02 billion, a PE ratio of 29.00, a P/E/G ratio of 1.53 and a beta of 0.78. The firm has a 50-day simple moving average of $227.00 and a two-hundred day simple moving average of $234.34. 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 (NYSE:RMD) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.13 earnings per share. As a group, analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is currently 23.79%.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the completion of the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $104,394,182.40. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction that occurred 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 completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,949 shares of company stock worth $11,335,320. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RMD shares. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. Mizuho set a $265.00 target price on shares of ResMed in a research note on Wednesday, April 16th. Morgan Stanley started coverage on shares of ResMed in a research note on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price on the stock. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $258.83.

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.