Sequoia Financial Advisors LLC Takes $423,000 Position in ResMed Inc. (NYSE:RMD)

Sequoia Financial Advisors LLC purchased a new stake in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,457 shares of the medical equipment provider’s stock, valued at approximately $423,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of ResMed during the 3rd quarter valued at approximately $26,000. Compass Wealth Management LLC acquired a new stake in shares of ResMed during the 4th quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new stake in shares of ResMed during the 3rd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC lifted its position in shares of ResMed by 224.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 128 shares during the period. Finally, Planned Solutions Inc. acquired a new stake in shares of ResMed during the 4th quarter valued at approximately $34,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Down 6.0 %

Shares of NYSE RMD opened at $173.86 on Thursday. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $243.52. The company has a market cap of $25.57 billion, a P/E ratio of 28.74, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average price of $186.42 and a 200 day moving average price of $170.17.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $1.66 EPS. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Research analysts anticipate that ResMed Inc. will post 7.46 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were issued a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 annualized dividend and a yield of 1.10%. ResMed’s dividend payout ratio is currently 31.74%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Oppenheimer increased their price target on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Needham & Company LLC increased their price target on ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. UBS Group increased their price target on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada upped their price objective on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $199.20.

Insider Activity at ResMed

In related news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. In the last three months, insiders sold 11,216 shares of company stock worth $2,046,617. Corporate insiders own 1.21% of the company’s stock.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.