8,728 Shares in ResMed Inc. (NYSE:RMD) Purchased by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV bought a new position in shares of ResMed Inc. (NYSE:RMD) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,728 shares of the medical equipment provider’s stock, valued at approximately $1,996,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ascent Group LLC boosted its holdings in shares of ResMed by 1.7% during the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after buying an additional 48 shares during the period. SkyView Investment Advisors LLC raised its stake in ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares in the last quarter. Wedmont Private Capital raised its stake in ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in ResMed by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after purchasing an additional 57 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its stake in ResMed by 2.0% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 3,043 shares of the medical equipment provider’s stock worth $743,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

RMD stock opened at $232.93 on Friday. The company has a 50 day simple moving average of $238.51 and a 200 day simple moving average of $238.47. The stock has a market cap of $34.21 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 1.57 and a beta of 0.70. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Research analysts anticipate that ResMed Inc. will post 9.44 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the sale, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,307 shares of company stock valued at $4,403,180 in the last ninety days. 0.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RMD shares. Piper Sandler lifted their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Robert W. Baird lifted their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, KeyCorp boosted their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

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.