NEOS Investment Management LLC Purchases 1,238 Shares of ResMed Inc. (NYSE:RMD)

NEOS Investment Management LLC grew its position in ResMed Inc. (NYSE:RMD) by 25.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,039 shares of the medical equipment provider’s stock after buying an additional 1,238 shares during the period. NEOS Investment Management LLC’s holdings in ResMed were worth $1,381,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RMD. First Horizon Advisors Inc. boosted its stake in ResMed by 285.1% in the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after acquiring an additional 439 shares in the last quarter. Peak Financial Advisors LLC purchased a new stake in shares of ResMed during the 4th quarter valued at $2,972,000. Principal Financial Group Inc. boosted its position in shares of ResMed by 2.9% in the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after purchasing an additional 5,284 shares in the last quarter. Spire Wealth Management grew its stake in ResMed by 11.3% during the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after buying an additional 1,100 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in ResMed by 2.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock valued at $14,105,000 after buying an additional 1,629 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Stifel Nicolaus lowered their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Finally, KeyCorp upped their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $249.73.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares in the company, 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. Insiders have sold a total of 38,940 shares of company stock valued at $9,164,385 in the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

ResMed Stock Down 1.2 %

ResMed stock opened at $219.85 on Friday. The business’s 50-day moving average price is $233.70 and its 200 day moving average price is $238.13. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a market cap of $32.29 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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%. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.96%. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

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.