Sherbrooke Park Advisers LLC Purchases New Holdings in ResMed Inc. (NYSE:RMD)

Sherbrooke Park Advisers LLC purchased a new stake in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,363 shares of the medical equipment provider’s stock, valued at approximately $540,000.

A number of other large investors also recently bought and sold shares of the business. Royal Bank of Canada lifted its position in ResMed by 9.5% during the 4th quarter. Royal Bank of Canada now owns 285,051 shares of the medical equipment provider’s stock valued at $65,189,000 after acquiring an additional 24,621 shares during the period. Rafferty Asset Management LLC lifted its position in ResMed by 4.3% during the 4th quarter. Rafferty Asset Management LLC now owns 16,650 shares of the medical equipment provider’s stock valued at $3,808,000 after acquiring an additional 693 shares during the period. Raiffeisen Bank International AG purchased a new position in ResMed during the 4th quarter valued at about $2,088,000. ProShare Advisors LLC lifted its position in ResMed by 10.0% during the 4th quarter. ProShare Advisors LLC now owns 26,631 shares of the medical equipment provider’s stock valued at $6,090,000 after acquiring an additional 2,410 shares during the period. Finally, Quadcap Wealth Management LLC purchased a new position in ResMed during the 4th quarter valued at about $406,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’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 completion of the sale, the director now directly owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 of the company’s stock, valued at approximately $2,289,265. This represents a 48.38% 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 three months. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on RMD. UBS Group decreased their target price on shares of ResMed from $290.00 to $285.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. KeyCorp set a $274.00 target price on shares of ResMed in a report on Thursday, April 24th. Stifel Nicolaus decreased their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Finally, Mizuho set a $265.00 target price on shares of ResMed in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $258.83.

ResMed Stock Up 1.3%

RMD opened at $251.75 on Friday. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $225.34 and a 200-day moving average price of $234.23. ResMed Inc. has a twelve month low of $179.42 and a twelve month high of $263.05. The stock has a market capitalization of $36.91 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.01. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the company earned $2.13 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business 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 dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.84%. ResMed’s payout ratio 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.