Fox Run Management L.L.C. Buys New Position in ResMed Inc. (NYSE:RMD)

Fox Run Management L.L.C. bought a new stake in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,950 shares of the medical equipment provider’s stock, valued at approximately $903,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC grew its position in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares during the last quarter. OFI Invest Asset Management bought a new position in ResMed during the fourth quarter valued at approximately $39,000. BankPlus Trust Department bought a new position in ResMed during the fourth quarter valued at approximately $44,000. Rosenberg Matthew Hamilton bought a new position in ResMed during the fourth quarter valued at approximately $54,000. Finally, SBI Securities Co. Ltd. bought a new position in ResMed during the fourth quarter valued at approximately $67,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Price Performance

RMD opened at $219.77 on Friday. The stock has a 50-day moving average price of $234.91 and a 200-day moving average price of $239.02. 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 firm has a market cap of $32.28 billion, a PE ratio of 25.95, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05.

ResMed (NYSE:RMD) last issued 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%. Sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

Analysts Set New Price Targets

A number of brokerages have commented on RMD. KeyCorp increased their price target 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. Morgan Stanley initiated coverage on shares of ResMed in a report on Wednesday. They issued an “overweight” rating and a $280.00 price target on the stock. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Saturday, March 15th. Piper Sandler lifted their price target on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group initiated coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $246.83.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the transaction, the director now owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. The trade was a 2.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction dated 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 sale, 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. In the last 90 days, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is owned by insiders.

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.