Empirical Asset Management LLC Purchases Shares of 3,066 ResMed Inc. $RMD

Empirical Asset Management LLC acquired a new stake in ResMed Inc. (NYSE:RMD) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,066 shares of the medical equipment provider’s stock, valued at approximately $839,000.

Several other institutional investors have also made changes to their positions in the business. SJS Investment Consulting Inc. raised its position in ResMed by 1,433.3% in the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 86 shares in the last quarter. WFA of San Diego LLC bought a new stake in shares of ResMed in the 2nd quarter valued at approximately $26,000. Westside Investment Management Inc. raised its holdings in shares of ResMed by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 66 shares in the last quarter. GoalVest Advisory LLC bought a new position in shares of ResMed during the 3rd quarter worth approximately $37,000. Finally, IMA Advisory Services Inc. boosted its stake in ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 48 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Robert W. Baird set a $281.00 target price on shares of ResMed in a research report on Friday, January 30th. Weiss Ratings upgraded shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Wall Street Zen raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Morgan Stanley set a $305.00 target price on shares of ResMed in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $299.27.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total transaction of $502,620.00. Following the completion of the sale, the director owned 64,773 shares in the company, valued at $16,278,102.63. The trade was a 3.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $115,837,766.58. This trade represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,082 shares of company stock worth $4,134,807. 0.65% of the stock is owned by company insiders.

ResMed Price Performance

Shares of RMD stock opened at $252.44 on Thursday. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $253.53 and its 200-day moving average is $261.43. The firm has a market capitalization of $36.77 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.67 and a beta of 0.87.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the company posted $2.43 EPS. ResMed’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be issued a $0.60 dividend. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 1.0%. ResMed’s dividend payout ratio (DPR) is currently 23.74%.

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.