Sequoia Financial Advisors LLC Makes New Investment in ResMed Inc. (NYSE:RMD)

Sequoia Financial Advisors LLC purchased a new position in ResMed Inc. (NYSE:RMD) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 2,457 shares of the medical equipment provider’s stock, valued at approximately $423,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ossiam boosted its stake in ResMed by 2.4% in the 1st quarter. Ossiam now owns 1,919 shares of the medical equipment provider’s stock worth $420,000 after purchasing an additional 45 shares during the period. Ascent Group LLC boosted its stake in ResMed by 2.3% in the 3rd quarter. Ascent Group LLC now owns 1,995 shares of the medical equipment provider’s stock worth $446,000 after purchasing an additional 45 shares during the period. SeaCrest Wealth Management LLC boosted its stake in ResMed by 3.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,400 shares of the medical equipment provider’s stock worth $291,000 after purchasing an additional 48 shares during the period. Capital Impact Advisors LLC boosted its stake in ResMed by 3.0% in the 4th quarter. Capital Impact Advisors LLC now owns 1,916 shares of the medical equipment provider’s stock worth $399,000 after purchasing an additional 56 shares during the period. Finally, Dearborn Partners LLC boosted its stake in ResMed by 3.8% in the 3rd quarter. Dearborn Partners LLC now owns 1,577 shares of the medical equipment provider’s stock worth $344,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insiders Place Their Bets

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated 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 owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated 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 owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock valued at $2,046,617 over the last quarter. Insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

RMD has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on shares of ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Royal Bank of Canada raised their price objective on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. KeyCorp assumed coverage on shares of ResMed in a report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price target on the stock. Finally, Needham & Company LLC increased their price objective on ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus target price of $199.20.

ResMed Stock Down 6.0 %

ResMed stock opened at $173.86 on Thursday. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $243.52. The firm’s fifty day simple moving average is $186.42 and its 200-day simple moving average is $170.17. The company has a market capitalization 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.

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

ResMed Announces Dividend

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

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.