Independent Advisor Alliance Acquires New Shares in ResMed Inc. (NYSE:RMD)

Independent Advisor Alliance bought a new position in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,008 shares of the medical equipment provider’s stock, valued at approximately $231,000.

Several other hedge funds have also recently modified their holdings of the business. Johnson Investment Counsel Inc. bought a new stake in ResMed in the 4th quarter worth about $371,000. Daiwa Securities Group Inc. boosted its holdings in shares of ResMed by 5.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 25,119 shares of the medical equipment provider’s stock valued at $5,744,000 after acquiring an additional 1,320 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ResMed by 6.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,476 shares of the medical equipment provider’s stock worth $15,202,000 after acquiring an additional 3,980 shares during the period. Simplicity Wealth LLC raised its holdings in shares of ResMed by 31.7% during the fourth quarter. Simplicity Wealth LLC now owns 1,913 shares of the medical equipment provider’s stock valued at $437,000 after purchasing an additional 461 shares during the last quarter. Finally, AlphaQuest LLC lifted its position in ResMed by 58.2% during the fourth quarter. AlphaQuest LLC now owns 2,962 shares of the medical equipment provider’s stock valued at $677,000 after purchasing an additional 1,090 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

RMD opened at $222.07 on Thursday. The company has a 50 day simple moving average of $235.48 and a two-hundred day simple moving average of $239.36. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm has a market cap of $32.61 billion, a P/E ratio of 26.22, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now directly owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,940 shares of company stock valued at $9,164,385. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RMD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Stifel Nicolaus reduced their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Saturday, March 15th. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. Finally, UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $246.83.

About ResMed

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.