Simplicity Solutions LLC Has $608,000 Stake in ResMed Inc. (NYSE:RMD)

Simplicity Solutions LLC grew its holdings in ResMed Inc. (NYSE:RMD) by 20.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,532 shares of the medical equipment provider’s stock after acquiring an additional 604 shares during the period. Simplicity Solutions LLC’s holdings in ResMed were worth $608,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in ResMed by 13.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock worth $7,781,000 after purchasing an additional 5,517 shares during the last quarter. Vaughan David Investments LLC IL acquired a new stake in ResMed during the 4th quarter worth approximately $29,322,000. Synergy Asset Management LLC lifted its holdings in ResMed by 29.2% during the 4th quarter. Synergy Asset Management LLC now owns 69,383 shares of the medical equipment provider’s stock worth $11,935,000 after purchasing an additional 15,663 shares during the last quarter. Inspire Advisors LLC lifted its holdings in ResMed by 20.2% during the 3rd quarter. Inspire Advisors LLC now owns 1,553 shares of the medical equipment provider’s stock worth $230,000 after purchasing an additional 261 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in ResMed by 3.4% during the 4th quarter. Nordea Investment Management AB now owns 9,753 shares of the medical equipment provider’s stock worth $1,682,000 after purchasing an additional 324 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank of Canada lifted their price target on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a report on Thursday, January 25th. Mizuho reaffirmed a “buy” rating and issued a $215.00 price objective on shares of ResMed in a report on Wednesday, March 27th. UBS Group lifted their price objective on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. KeyCorp assumed coverage on ResMed in a report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.20.

Insider Buying and Selling

In related news, General Counsel Michael J. Rider sold 200 shares of the business’s 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 owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Michael J. Rider sold 200 shares of the business’s 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 owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the business’s 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 owns 157,404 shares in the company, valued at approximately $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. Insiders own 1.21% of the company’s stock.

ResMed Trading Down 6.0 %

Shares of RMD opened at $173.86 on Thursday. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $243.52. The business’s fifty day moving average is $186.42 and its 200-day moving average is $170.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The firm has a market cap of $25.57 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.29 and a beta of 0.67.

ResMed (NYSE:RMD) last issued 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 company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the company posted $1.66 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts anticipate that ResMed Inc. will post 7.46 EPS for the current fiscal year.

ResMed Dividend Announcement

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