Focus Partners Wealth Purchases 7,698 Shares of ResMed Inc. (NYSE:RMD)

Focus Partners Wealth raised its holdings in ResMed Inc. (NYSE:RMD) by 197.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,606 shares of the medical equipment provider’s stock after purchasing an additional 7,698 shares during the quarter. Focus Partners Wealth’s holdings in ResMed were worth $2,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of ResMed by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider’s stock valued at $4,156,089,000 after buying an additional 160,590 shares in the last quarter. Geode Capital Management LLC boosted its stake in ResMed by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider’s stock worth $899,860,000 after buying an additional 85,270 shares in the last quarter. Invesco Ltd. grew its stake in shares of ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after buying an additional 566,046 shares during the last quarter. Northern Trust Corp increased its stake in shares of ResMed by 20.6% in the fourth quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider’s stock worth $389,365,000 after buying an additional 290,664 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in ResMed by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock worth $218,861,000 after buying an additional 32,973 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 0.7%

Shares of NYSE RMD opened at $248.60 on Friday. The stock has a market capitalization of $36.45 billion, a P/E ratio of 29.35, a PEG ratio of 1.53 and a beta of 0.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The business’s 50 day moving average is $224.81 and its two-hundred day moving average is $234.18. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.13 earnings per share. As a group, research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm 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 dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed’s payout ratio is 23.79%.

Analysts Set New Price Targets

RMD has been the subject of several research analyst reports. Morgan Stanley began coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price objective for the company. UBS Group reduced their price target on shares of ResMed from $290.00 to $285.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus dropped their price target 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. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, KeyCorp set a $274.00 target price on ResMed in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $258.83.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total value of $484,500.00. Following the completion of the transaction, the director now directly owns 71,218 shares in the company, valued at $17,252,560.50. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $104,394,182.40. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,949 shares of company stock valued at $11,335,320 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

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.