International Assets Investment Management LLC Acquires 22,007 Shares of ResMed Inc. (NYSE:RMD)

International Assets Investment Management LLC lifted its holdings in ResMed Inc. (NYSE:RMD) by 11,960.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,191 shares of the medical equipment provider’s stock after acquiring an additional 22,007 shares during the quarter. International Assets Investment Management LLC’s holdings in ResMed were worth $3,817,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in RMD. EverSource Wealth Advisors LLC increased its stake in ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 128 shares during the period. Operose Advisors LLC bought a new position in shares of ResMed in the third quarter worth approximately $32,000. Planned Solutions Inc. bought a new position in shares of ResMed in the fourth quarter worth approximately $34,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of ResMed by 27.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 459 shares of the medical equipment provider’s stock worth $68,000 after buying an additional 100 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in ResMed during the 3rd quarter valued at $193,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were 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 $28,751,414.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ResMed news, 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 directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen Drexler sold 425 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the transaction, the director now owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The disclosure for this sale can be found here. Insiders sold a total of 26,324 shares of company stock worth $5,316,828 in the last three months. 1.21% of the stock is owned by corporate insiders.

ResMed Stock Up 1.9 %

RMD stock opened at $216.95 on Friday. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $237.26. The company has a market capitalization of $31.87 billion, a price-to-earnings ratio of 33.32, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The business’s 50 day moving average price is $193.54 and its two-hundred day moving average price is $176.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 earnings per share. As a group, analysts forecast that ResMed Inc. will post 7.59 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be paid a $0.48 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 0.89%. ResMed’s payout ratio is 29.49%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Needham & Company LLC raised their price target on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada raised their target price on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. UBS Group upped their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Oppenheimer dropped their price objective on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Finally, KeyCorp boosted their target price on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $202.80.

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.