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

Pacific Point Advisors LLC bought a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,306 shares of the medical equipment provider's stock, valued at approximately $1,276,000.

Other hedge funds also recently modified their holdings of the company. Howard Capital Management Inc. boosted its position in ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after purchasing an additional 45 shares during the last quarter. Faithward Advisors LLC increased its position in shares of ResMed by 4.3% during the 4th quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock valued at $292,000 after purchasing an additional 53 shares during the last quarter. Meiji Yasuda Life Insurance Co increased its position in shares of ResMed by 4.6% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 1,356 shares of the medical equipment provider's stock valued at $310,000 after purchasing an additional 60 shares during the last quarter. HighPoint Advisor Group LLC boosted its holdings in ResMed by 2.6% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider's stock valued at $610,000 after acquiring an additional 64 shares during the period. Finally, Commerce Bank lifted its holdings in ResMed by 1.1% in the 4th quarter. Commerce Bank now owns 6,448 shares of the medical equipment provider's stock worth $1,475,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the company's 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 sale, the director now owns 75,218 shares in the company, valued at $17,127,890.78. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the company's stock in a transaction that occurred on 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 sale, the insider now owns 9,725 shares of the company's stock, valued at $2,327,289.75. This trade represents a 50.05% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,949 shares of company stock valued at $11,822,260. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Up 1.4%

Shares of NYSE RMD traded up $3.42 during midday trading on Tuesday, hitting $246.26. 1,056,206 shares of the company's stock were exchanged, compared to its average volume of 1,050,465. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a twelve month low of $179.42 and a twelve month high of $263.05. The company has a market cap of $36.11 billion, a PE ratio of 29.07, a P/E/G ratio of 1.53 and a beta of 0.78. The firm's fifty day simple moving average is $228.30 and its 200-day simple moving average is $234.10.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.13 earnings per share. Research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

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

Wall Street Analysts Forecast Growth

RMD has been the topic of several research reports. Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a research report on Saturday. JPMorgan Chase & Co. boosted their price target on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Royal Bank of Canada boosted their price objective on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research report on Thursday, April 24th. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus decreased their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $259.33.

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.