Raymond James & Associates Boosts Holdings in ResMed Inc. (NYSE:RMD)

Raymond James & Associates raised its holdings in ResMed Inc. (NYSE:RMD) by 21.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,842 shares of the medical equipment provider’s stock after acquiring an additional 1,200 shares during the period. Raymond James & Associates’ holdings in ResMed were worth $1,177,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in ResMed in the third quarter valued at $26,000. Compass Wealth Management LLC acquired a new position in shares of ResMed in the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC raised its position in shares of ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 128 shares during the period. Riverview Trust Co raised its position in shares of ResMed by 255.9% in the third quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 151 shares during the period. Finally, Live Oak Investment Partners acquired a new position in shares of ResMed in the fourth quarter worth about $44,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of analyst reports. KeyCorp initiated coverage on shares of ResMed in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price objective for the company. Needham & Company LLC upped their price objective on shares of ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Royal Bank of Canada upped their price objective on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 25th. Mizuho reiterated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. raised their price target on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and an average target price of $199.20.

ResMed Trading Up 0.7 %

Shares of ResMed stock opened at $178.85 on Friday. 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 firm’s 50-day moving average price is $186.18 and its 200 day moving average price is $170.63. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $243.52. The firm has a market capitalization of $26.31 billion, a PE ratio of 29.56, a P/E/G ratio of 2.18 and a beta of 0.67.

ResMed (NYSE:RMD) last released its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $1.66 EPS. The business’s revenue was up 12.5% on a year-over-year basis. On average, sell-side analysts predict that ResMed Inc. will post 7.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is 31.74%.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were 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 owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now 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 have sold 11,216 shares of company stock valued at $2,046,617 in the last ninety days. 1.21% of the stock is currently owned by corporate insiders.

ResMed 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.