1834 Investment Advisors Co. Invests $570,000 in ResMed Inc. $RMD

1834 Investment Advisors Co. acquired a new stake in ResMed Inc. (NYSE:RMD) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,084 shares of the medical equipment provider’s stock, valued at approximately $570,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMD. Norges Bank purchased a new position in ResMed in the 2nd quarter valued at about $306,452,000. Vanguard Group Inc. grew its holdings in shares of ResMed by 1.4% during the second quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock worth $4,836,707,000 after buying an additional 253,223 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new position in shares of ResMed in the second quarter valued at approximately $39,306,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of ResMed in the second quarter valued at approximately $34,443,000. Finally, Swedbank AB lifted its stake in shares of ResMed by 25.4% during the third quarter. Swedbank AB now owns 542,711 shares of the medical equipment provider’s stock valued at $148,556,000 after buying an additional 109,760 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on RMD. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ResMed in a research note on Monday, December 29th. UBS Group restated a “buy” rating and set a $345.00 price objective on shares of ResMed in a report on Friday, December 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $275.00 price objective (down previously from $300.00) on shares of ResMed in a research report on Tuesday, December 16th. Royal Bank Of Canada increased their target price on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, Mizuho decreased their price target on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $296.09.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $248.83, for a total value of $497,660.00. Following the completion of the sale, the director owned 66,773 shares of the company’s stock, valued at $16,615,125.59. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Witte Jan De sold 2,055 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total value of $524,025.00. Following the sale, the director owned 4,261 shares in the company, valued at approximately $1,086,555. The trade was a 32.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 21,594 shares of company stock worth $5,403,495. 0.65% of the stock is currently owned by corporate insiders.

ResMed Stock Performance

Shares of NYSE:RMD opened at $252.44 on Monday. The business has a 50-day moving average of $249.96 and a two-hundred day moving average of $263.28. The firm has a market capitalization of $36.84 billion, a PE ratio of 25.84, a P/E/G ratio of 1.70 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last released its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.06. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 EPS. As a group, research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed’s dividend payout ratio is presently 24.56%.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.