Pacific Point Advisors LLC Makes New $1.28 Million Investment in ResMed Inc. (NYSE:RMD)

Pacific Point Advisors LLC purchased a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,306 shares of the medical equipment provider's stock, valued at approximately $1,276,000.

Several other institutional investors have also added to or reduced their stakes in RMD. Colonial Trust Co SC lifted its holdings in ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after buying an additional 125 shares during the period. Optiver Holding B.V. purchased a new position in shares of ResMed in the 4th quarter valued at approximately $33,000. Itau Unibanco Holding S.A. boosted its position in shares of ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of ResMed during the fourth quarter valued at approximately $39,000. Finally, Coppell Advisory Solutions LLC grew its stake in ResMed by 1,750.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Buying and Selling at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares of the company's stock, valued at $2,289,265. This represents a 48.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the completion of the transaction, the director now directly owns 75,218 shares in the company, valued at approximately $17,127,890.78. The trade was a 2.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,949 shares of company stock worth $11,822,260 over the last quarter. Insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RMD. UBS Group dropped their target price on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research note on Saturday. Royal Bank of Canada raised their target price on shares of ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research note on Thursday, April 24th. Morgan Stanley set a $286.00 target price on shares of ResMed and gave the company an "overweight" rating in a report on Tuesday, May 20th. Finally, KeyCorp set a $274.00 price target on ResMed in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ResMed has an average rating of "Moderate Buy" and a consensus price target of $259.33.

ResMed Stock Performance

ResMed stock traded down $0.30 during trading on Wednesday, reaching $245.93. The company had a trading volume of 225,711 shares, compared to its average volume of 1,020,481. The firm's 50-day simple moving average is $228.80 and its 200 day simple moving average is $234.18. ResMed Inc. has a 52 week low of $179.42 and a 52 week high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $36.06 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating the consensus estimate of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $2.13 earnings per share. The business's revenue was up 7.9% on a year-over-year basis. Sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.86%. ResMed's payout ratio is currently 23.79%.

ResMed 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.