LPL Financial LLC Buys 20,135 Shares of ResMed Inc. (NYSE:RMD)

LPL Financial LLC lifted its position in ResMed Inc. (NYSE:RMD) by 60.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,342 shares of the medical equipment provider’s stock after purchasing an additional 20,135 shares during the quarter. LPL Financial LLC’s holdings in ResMed were worth $12,199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its stake in ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after purchasing an additional 380,383 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of ResMed by 60.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after acquiring an additional 250,746 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in ResMed during the 4th quarter valued at about $50,364,000. Nordea Investment Management AB boosted its holdings in ResMed by 92.7% during the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after acquiring an additional 215,561 shares during the period. Finally, State Street Corp grew its position in ResMed by 1.9% during the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after acquiring an additional 116,918 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of analyst reports. KeyCorp increased their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Morgan Stanley assumed coverage on shares of ResMed in a report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price for the company. Finally, Stifel Nicolaus reduced their price target on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $249.73.

ResMed Stock Up 0.2 %

Shares of NYSE:RMD opened at $222.78 on Thursday. The firm has a market capitalization of $32.72 billion, a P/E ratio of 26.30, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a 50 day moving average price of $232.37 and a 200-day moving average price of $237.54. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the sale, the director now directly owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. This represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kaushik Ghoshal sold 9,745 shares of ResMed 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 transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,327,289.75. This represents a 50.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,940 shares of company stock valued at $9,164,385. Corporate insiders own 0.71% of the company’s stock.

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.