Merit Financial Group LLC Invests $460,000 in ResMed Inc. (NYSE:RMD)

Merit Financial Group LLC acquired a new stake in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,011 shares of the medical equipment provider’s stock, valued at approximately $460,000.

Several other large investors also recently added to or reduced their stakes in the stock. True Wealth Design LLC raised its stake in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in ResMed during the 3rd quarter worth $34,000. Rosenberg Matthew Hamilton bought a new stake in ResMed during the 4th quarter valued at $54,000. Capital Performance Advisors LLP purchased a new stake in shares of ResMed in the 3rd quarter worth $60,000. Finally, Quarry LP grew its position in shares of ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 242 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the sale, the director now directly owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,099 shares of company stock worth $2,719,385 in the last three months. Corporate insiders own 0.71% of the company’s stock.

ResMed Stock Up 0.6 %

Shares of RMD stock opened at $248.90 on Friday. The stock’s fifty day moving average price is $238.59 and its 200 day moving average price is $233.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. ResMed Inc. has a 1-year low of $170.56 and a 1-year high of $260.49. The company has a market cap of $36.54 billion, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 1.79 and a beta of 0.70.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 earnings per share. On average, research analysts expect that ResMed Inc. will post 9.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Robert W. Baird upped their price target on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Stifel Nicolaus assumed coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective on the stock. Piper Sandler initiated coverage on ResMed in a report on Friday, January 10th. They set a “neutral” rating and a $252.00 target price for the company. Finally, KeyCorp increased their target price on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Hold” and a consensus price target of $233.09.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.