ResMed Inc. (NYSE:RMD) Shares Purchased by US Bancorp DE

US Bancorp DE boosted its position in ResMed Inc. (NYSE:RMD) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,574 shares of the medical equipment provider’s stock after buying an additional 1,254 shares during the period. US Bancorp DE’s holdings in ResMed were worth $7,221,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC increased its stake in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares during the period. Ashton Thomas Securities LLC purchased a new stake in ResMed in the 3rd quarter valued at approximately $34,000. BankPlus Trust Department purchased a new stake in ResMed in the 4th quarter valued at approximately $44,000. Rosenberg Matthew Hamilton acquired a new position in ResMed during the 4th quarter worth approximately $54,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of ResMed during the 3rd quarter worth approximately $60,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on RMD shares. The Goldman Sachs Group assumed coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. KeyCorp boosted their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Needham & Company LLC restated 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $244.73.

ResMed Trading Down 0.8 %

Shares of RMD opened at $231.31 on Wednesday. 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 $172.19 and a 1-year high of $263.05. The stock has a market cap of $33.97 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. The firm has a 50 day simple moving average of $237.07 and a 200-day simple moving average of $240.02.

ResMed (NYSE:RMD) last released 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%. Equities analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

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

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the transaction, the insider now owns 9,725 shares of the company’s stock, valued at $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,186 shares of company stock valued at $4,541,226. 0.71% of the stock is owned by insiders.

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.