1,732 Shares in ResMed Inc. (NYSE:RMD) Bought by SVB Wealth LLC

SVB Wealth LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,732 shares of the medical equipment provider’s stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake 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 valued at $27,000 after buying an additional 128 shares during the period. Riverview Trust Co increased its stake 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 valued at $31,000 after buying an additional 151 shares during the period. Operose Advisors LLC acquired a new stake in shares of ResMed in the third quarter valued at about $32,000. Planned Solutions Inc. acquired a new stake in shares of ResMed in the fourth quarter valued at about $34,000. Finally, MV Capital Management Inc. increased its stake in shares of ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 60 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of ResMed stock opened at $180.35 on Tuesday. The company has a market cap of $26.53 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.19 and a beta of 0.67. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $243.52. The business has a 50 day moving average price of $186.14 and a 200-day moving average price of $171.04. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMD) last issued its quarterly earnings data 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. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 earnings per share. Equities analysts anticipate that ResMed Inc. will post 7.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is presently 31.74%.

Analyst Ratings Changes

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

Insider Transactions at ResMed

In other news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,158,696. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Peter C. Farrell sold 10,935 shares of the 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 completion of the sale, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. Insiders sold a total of 11,216 shares of company stock valued at $2,046,617 over the last ninety days. 1.21% of the stock is currently owned by 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.