Miracle Mile Advisors LLC Buys 77 Shares of ResMed Inc. (NYSE:RMD)

Miracle Mile Advisors LLC increased its position in ResMed Inc. (NYSE:RMD) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 917 shares of the medical equipment provider’s stock after acquiring an additional 77 shares during the quarter. Miracle Mile Advisors LLC’s holdings in ResMed were worth $210,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Private Advisor Group LLC boosted its holdings in ResMed by 15.1% in the 2nd quarter. Private Advisor Group LLC now owns 3,071 shares of the medical equipment provider’s stock valued at $588,000 after purchasing an additional 402 shares during the period. Quest Partners LLC raised its position in shares of ResMed by 44.1% in the second quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 100 shares in the last quarter. American Century Companies Inc. boosted its stake in ResMed by 17.7% during the second quarter. American Century Companies Inc. now owns 30,874 shares of the medical equipment provider’s stock valued at $5,910,000 after buying an additional 4,639 shares during the period. Dimensional Fund Advisors LP grew its position in ResMed by 19.3% during the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after buying an additional 107,279 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in ResMed in the 2nd quarter worth about $42,036,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on RMD. Bank of America boosted their price objective on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday. They set a “buy” rating on the stock. Robert W. Baird upped their target price 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. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $233.09.

ResMed Trading Up 1.6 %

Shares of RMD stock opened at $237.19 on Friday. The business has a 50-day moving average of $238.99 and a 200 day moving average of $232.06. 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 $168.29 and a 1-year high of $260.49. The stock has a market capitalization of $34.82 billion, a PE ratio of 31.42, a P/E/G ratio of 1.69 and a beta of 0.70.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business earned $1.64 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.36 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is 28.08%.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on 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 in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,099 shares of company stock worth $2,719,385. Company 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.