Nisa Investment Advisors LLC Purchases 7,594 Shares of ResMed Inc. (NYSE:RMD)

Nisa Investment Advisors LLC increased its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 12.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,863 shares of the medical equipment provider's stock after buying an additional 7,594 shares during the quarter. Nisa Investment Advisors LLC's holdings in ResMed were worth $11,502,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC bought a new position in ResMed during the 3rd quarter valued at $26,000. Compass Wealth Management LLC bought a new position in ResMed during the 4th quarter valued at $26,000. International Assets Investment Management LLC bought a new position in ResMed during the 3rd quarter valued at $27,000. EverSource Wealth Advisors LLC boosted its stake in ResMed by 224.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider's stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Finally, Riverview Trust Co boosted its stake in ResMed by 255.9% during the 3rd quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider's stock valued at $31,000 after purchasing an additional 151 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

ResMed Stock Up 3.5 %

ResMed stock traded up $6.51 during mid-day trading on Tuesday, hitting $194.27. 987,417 shares of the company's stock were exchanged, compared to its average volume of 992,987. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The stock has a market cap of $28.58 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.34 and a beta of 0.67. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $243.52. The stock has a 50 day moving average of $186.96 and a two-hundred day moving average of $168.25.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $1.66 earnings per share. The firm's revenue was up 12.5% compared to the same quarter last year. As a group, analysts anticipate that ResMed Inc. will post 7.45 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Wednesday, February 7th. ResMed's payout ratio is presently 31.74%.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Peter C. Farrell sold 10,935 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares of the company's stock, valued at $28,751,414.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares of the company's stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders sold a total of 11,216 shares of company stock worth $2,046,617 over the last quarter. Company insiders own 1.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on ResMed from $160.00 to $195.00 and gave the company an "overweight" rating in a research note on Tuesday, January 9th. Mizuho reiterated a "buy" rating and set a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. UBS Group increased their price objective on ResMed from $175.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, January 25th. Oppenheimer increased their price objective on ResMed from $185.00 to $205.00 and gave the company an "outperform" rating in a research report on Tuesday, January 30th. Finally, KeyCorp initiated coverage on ResMed in a research report on Tuesday, February 6th. They set an "overweight" rating and a $227.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $199.20.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.