Smartleaf Asset Management LLC Boosts Holdings in ResMed Inc. (NYSE:RMD)

Smartleaf Asset Management LLC grew its position in shares of ResMed Inc. (NYSE:RMD) by 36.1% during the fourth quarter, Holdings Channel reports. The firm owned 1,176 shares of the medical equipment provider’s stock after acquiring an additional 312 shares during the quarter. Smartleaf Asset Management LLC’s holdings in ResMed were worth $270,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RMD. First Horizon Advisors Inc. raised its position in ResMed by 285.1% during the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock worth $136,000 after buying an additional 439 shares during the last quarter. Peak Financial Advisors LLC purchased a new position in shares of ResMed in the 4th quarter worth $2,972,000. Principal Financial Group Inc. lifted its position in ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after buying an additional 5,284 shares in the last quarter. Spire Wealth Management grew its position in ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock valued at $2,470,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of ResMed by 2.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock valued at $14,105,000 after acquiring an additional 1,629 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Down 3.3 %

RMD stock opened at $223.76 on Thursday. The firm’s 50-day moving average is $236.90 and its two-hundred day moving average is $239.90. The company has a market capitalization of $32.86 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS 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%. On average, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. ResMed’s dividend payout ratio (DPR) is 25.03%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RMD shares. The Goldman Sachs Group started coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.82.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the business’s 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 sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,186 shares of company stock valued at $4,541,226 over the last 90 days. 0.71% of the stock is currently owned by corporate 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.