Jacobi Capital Management LLC Makes New Investment in ResMed Inc. (NYSE:RMD)

Jacobi Capital Management LLC purchased a new position in ResMed Inc. (NYSE:RMD) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,124 shares of the medical equipment provider’s stock, valued at approximately $257,000.

Several other large investors also recently modified their holdings of the business. US Bancorp DE increased its holdings in shares of ResMed by 4.1% in the fourth quarter. US Bancorp DE now owns 31,574 shares of the medical equipment provider’s stock worth $7,221,000 after acquiring an additional 1,254 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of ResMed by 61.0% during the fourth quarter. Fisher Asset Management LLC now owns 43,028 shares of the medical equipment provider’s stock worth $9,840,000 after buying an additional 16,301 shares during the period. SVB Wealth LLC acquired a new position in shares of ResMed during the fourth quarter worth about $257,000. Wakefield Asset Management LLLP acquired a new position in shares of ResMed during the fourth quarter worth about $3,300,000. Finally, QRG Capital Management Inc. boosted its position in ResMed by 162.1% during the fourth quarter. QRG Capital Management Inc. now owns 17,812 shares of the medical equipment provider’s stock valued at $4,074,000 after purchasing an additional 11,015 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,073 shares of company stock worth $2,887,326. Company insiders own 0.71% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $233.12 on Tuesday. The firm has a market capitalization of $34.24 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 1.53 and a beta of 0.70. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05. The stock’s 50 day moving average price is $237.10 and its two-hundred day moving average price is $239.99.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RMD shares. JPMorgan Chase & Co. increased their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. Stifel Nicolaus started coverage on ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 price target for the company. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $244.73.

ResMed 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.