Bleakley Financial Group LLC Purchases 625 Shares of ResMed Inc. (NYSE:RMD)

Bleakley Financial Group LLC grew its stake in ResMed Inc. (NYSE:RMD) by 43.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,080 shares of the medical equipment provider’s stock after acquiring an additional 625 shares during the period. Bleakley Financial Group LLC’s holdings in ResMed were worth $358,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RMD. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of ResMed in the 3rd quarter valued at about $26,000. Compass Wealth Management LLC bought a new stake in shares of ResMed in the 4th quarter valued at about $26,000. International Assets Investment Management LLC bought a new stake in shares of ResMed in the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC increased its stake in shares of ResMed by 224.6% in 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 last quarter. Finally, Riverview Trust Co increased its stake in shares of ResMed by 255.9% in the 3rd quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 151 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on RMD. Mizuho reiterated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Oppenheimer boosted their price objective on ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. JPMorgan Chase & Co. boosted their price objective on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. KeyCorp started coverage on ResMed in a research report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price target for the company. Finally, UBS Group upped their price target on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average target price of $199.20.

Insiders Place Their Bets

In other ResMed 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 transaction of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 transaction of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock worth $2,046,617 in the last 90 days. Company insiders own 1.21% of the company’s stock.

ResMed Stock Down 1.9 %

RMD opened at $185.86 on Monday. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $243.52. The stock’s fifty day simple moving average is $186.89 and its 200 day simple moving average is $169.64. 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 market cap of $27.34 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 2.30 and a beta of 0.67.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.66 EPS. As a group, research analysts expect that ResMed Inc. will post 7.45 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.03%. The ex-dividend date was Wednesday, February 7th. ResMed’s payout ratio is 31.74%.

ResMed Company Profile

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.