Transcend Capital Advisors LLC Invests $335,000 in ResMed Inc. (NYSE:RMD)

Transcend Capital Advisors LLC bought a new position in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,466 shares of the medical equipment provider’s stock, valued at approximately $335,000.

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after buying an additional 380,383 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in ResMed by 726.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after buying an additional 249,454 shares during the last quarter. Nordea Investment Management AB raised its position in ResMed by 92.7% in the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after buying an additional 215,561 shares during the last quarter. State Street Corp raised its position in ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after buying an additional 116,918 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its position in ResMed by 3,266.5% in the 4th quarter. AustralianSuper Pty Ltd now owns 103,923 shares of the medical equipment provider’s stock valued at $23,766,000 after buying an additional 100,836 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,147 shares of company stock worth $2,905,745 in the last quarter. 0.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on RMD. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. KeyCorp increased their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group initiated coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. Stifel Nicolaus initiated coverage on ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 target price for the company. Finally, Piper Sandler raised their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” 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 given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Stock Down 0.5 %

RMD stock opened at $231.61 on Monday. 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 company has a market capitalization of $34.02 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.53 and a beta of 0.70. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05. The stock has a fifty day moving average of $237.43 and a 200-day moving average of $239.41.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.92%. ResMed’s dividend payout ratio is currently 25.03%.

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.