NorthRock Partners LLC Increases Stock Position in ResMed Inc. (NYSE:RMD)

NorthRock Partners LLC raised its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 88.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,450 shares of the medical equipment provider's stock after purchasing an additional 1,149 shares during the period. NorthRock Partners LLC's holdings in ResMed were worth $560,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Occudo Quantitative Strategies LP purchased a new position in shares of ResMed during the fourth quarter valued at approximately $642,000. Janus Henderson Group PLC boosted its holdings in ResMed by 4.0% during the 4th quarter. Janus Henderson Group PLC now owns 16,807 shares of the medical equipment provider's stock worth $3,848,000 after acquiring an additional 647 shares during the last quarter. Focus Partners Wealth boosted its holdings in ResMed by 197.0% during the 4th quarter. Focus Partners Wealth now owns 11,606 shares of the medical equipment provider's stock worth $2,655,000 after acquiring an additional 7,698 shares during the last quarter. Ethic Inc. boosted its holdings in ResMed by 8.6% during the 4th quarter. Ethic Inc. now owns 19,690 shares of the medical equipment provider's stock worth $4,503,000 after acquiring an additional 1,562 shares during the last quarter. Finally, Fiduciary Trust Co boosted its holdings in ResMed by 2.4% during the 4th quarter. Fiduciary Trust Co now owns 6,306 shares of the medical equipment provider's stock worth $1,442,000 after acquiring an additional 150 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Kaushik Ghoshal sold 9,113 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 9,725 shares in the company, valued at $2,289,265. This represents a 48.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total value 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 represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,949 shares of company stock worth $11,335,320 over the last ninety days. Company insiders own 0.71% of the company's stock.

ResMed Stock Performance

Shares of RMD stock traded down $5.19 during trading on Tuesday, reaching $248.16. 1,431,462 shares of the company's stock traded hands, compared to its average volume of 1,019,459. The company has a market capitalization of $36.39 billion, a P/E ratio of 29.30, a PEG ratio of 1.53 and a beta of 0.78. 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's 50-day moving average is $226.00 and its 200 day moving average is $234.17. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05.

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

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio is presently 23.79%.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Stifel Nicolaus cut their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Finally, KeyCorp set a $274.00 price target on shares of ResMed in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ResMed has an average rating of "Moderate Buy" and a consensus target price of $258.83.

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.