Main Street Research LLC Makes New Investment in ResMed Inc. (NYSE:RMD)

Main Street Research LLC bought a new position in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 1,200 shares of the medical equipment provider’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in ResMed by 13.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock worth $7,781,000 after purchasing an additional 5,517 shares during the period. Vaughan David Investments LLC IL purchased a new stake in shares of ResMed during the 4th quarter worth approximately $29,322,000. Synergy Asset Management LLC boosted its stake in shares of ResMed by 29.2% during the 4th quarter. Synergy Asset Management LLC now owns 69,383 shares of the medical equipment provider’s stock worth $11,935,000 after acquiring an additional 15,663 shares in the last quarter. Inspire Advisors LLC boosted its stake in shares of ResMed by 20.2% during the 3rd quarter. Inspire Advisors LLC now owns 1,553 shares of the medical equipment provider’s stock worth $230,000 after acquiring an additional 261 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of ResMed by 3.4% during the 4th quarter. Nordea Investment Management AB now owns 9,753 shares of the medical equipment provider’s stock worth $1,682,000 after acquiring an additional 324 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Up 0.0 %

Shares of RMD stock traded up $0.05 during mid-day trading on Tuesday, hitting $185.14. 155,003 shares of the company’s stock were exchanged, compared to its average volume of 966,403. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $243.52. The stock has a 50-day simple moving average of $186.79 and a two-hundred day simple moving average of $169.88. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. The stock has a market cap of $27.23 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 2.30 and a beta of 0.67.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.07. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.66 earnings per share. Equities analysts expect that ResMed Inc. will post 7.45 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is currently 31.74%.

Insider Buying and Selling

In related news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction 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 transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction dated 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 transaction, 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 the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,216 shares of company stock valued at $2,046,617. 1.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RMD has been the topic of several research analyst reports. Oppenheimer boosted their price target on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Needham & Company LLC upped their target price on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, April 1st. KeyCorp assumed coverage on ResMed in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 target price on the stock. JPMorgan Chase & Co. upped their target price on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Finally, 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 note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.20.

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.