ResMed Inc. (NYSE:RMD) Shares Acquired by WBI Investments LLC

WBI Investments LLC raised its position in ResMed Inc. (NYSE:RMD - Free Report) by 160.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,612 shares of the medical equipment provider's stock after buying an additional 9,624 shares during the period. ResMed comprises 0.9% of WBI Investments LLC's investment portfolio, making the stock its 20th biggest position. WBI Investments LLC's holdings in ResMed were worth $3,570,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Colonial Trust Co SC lifted its position in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 125 shares in the last quarter. Optiver Holding B.V. purchased a new position in ResMed in the fourth quarter valued at approximately $33,000. Itau Unibanco Holding S.A. raised its stake in ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after acquiring an additional 150 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of ResMed during the fourth quarter worth about $39,000. Finally, Coppell Advisory Solutions LLC lifted 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 valued at $42,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total transaction of $455,420.00. Following the sale, the director now owns 75,218 shares in the company, valued at approximately $17,127,890.78. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares of the company's stock, valued at $2,289,265. The trade was a 48.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,949 shares of company stock valued at $11,335,320 in the last ninety days. Insiders own 0.71% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RMD. Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research report on Friday, January 31st. KeyCorp set a $274.00 target price on ResMed in a report on Thursday, April 24th. Stifel Nicolaus cut their price target on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada lifted their price objective on shares of ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $258.83.

ResMed Trading Up 1.3%

Shares of ResMed stock opened at $251.75 on Monday. The company has a 50-day moving average of $225.34 and a two-hundred day moving average of $234.11. ResMed Inc. has a 12-month low of $179.42 and a 12-month 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 stock has a market cap of $36.91 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78.

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

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be issued a $0.53 dividend. The ex-dividend date is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a yield of 0.84%. ResMed's dividend payout ratio (DPR) is 23.79%.

ResMed Company 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.

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