NorthRock Partners LLC Purchases 1,149 Shares of ResMed Inc. (NYSE:RMD)

NorthRock Partners LLC boosted its position in ResMed Inc. (NYSE:RMD) by 88.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,450 shares of the medical equipment provider’s stock after acquiring an additional 1,149 shares during the period. NorthRock Partners LLC’s holdings in ResMed were worth $560,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Colonial Trust Co SC boosted its holdings in 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 buying an additional 125 shares during the last quarter. Optiver Holding B.V. bought a new position in ResMed during the fourth quarter worth about $33,000. Itau Unibanco Holding S.A. boosted its holdings in ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 150 shares during the last quarter. OFI Invest Asset Management bought a new position in ResMed during the fourth quarter worth about $39,000. Finally, Coppell Advisory Solutions LLC boosted its holdings in ResMed by 1,750.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 175 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley assumed coverage on ResMed in a report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price on the stock. Stifel Nicolaus reduced their target price on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. Mizuho set a $265.00 price target on ResMed in a research report on Wednesday, April 16th. Finally, Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $258.83.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm’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 value of $2,145,200.20. Following the completion of the transaction, the insider now 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 a total of 48,949 shares of company stock worth $11,335,320 over the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

ResMed Stock Up 1.3%

Shares of ResMed stock opened at $251.75 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The business’s 50 day simple moving average is $225.34 and its 200 day simple moving average is $234.23. The firm has a market cap of $36.91 billion, a PE ratio of 29.72, a P/E/G ratio of 1.53 and a beta of 0.78. ResMed Inc. has a 52-week low of $179.42 and a 52-week high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $2.13 earnings per share. On average, analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be paid 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 is 23.79%.

About ResMed

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.