Kingswood Wealth Advisors LLC Invests $236,000 in ResMed Inc. (NYSE:RMD)

Kingswood Wealth Advisors LLC purchased a new stake in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,030 shares of the medical equipment provider’s stock, valued at approximately $236,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after purchasing an additional 380,383 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of ResMed by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after purchasing an additional 13,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of ResMed by 0.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after purchasing an additional 2,406 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of 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 purchasing an additional 215,561 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RMD has been the subject of a number of research reports. Stifel Nicolaus assumed coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday. Robert W. Baird increased their target price 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. Finally, StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

ResMed Stock Down 8.1 %

Shares of NYSE RMD opened at $236.66 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $240.17 and a 200 day moving average price of $236.21. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $263.05. The stock has a market capitalization of $34.74 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 1.83 and a beta of 0.70.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 23.15% and a return on equity of 25.53%. Equities research analysts anticipate that ResMed Inc. will post 9.35 EPS for the current fiscal year.

ResMed Dividend Announcement

The company 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 $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

Insider Activity

In other ResMed news, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total value of $497,480.00. Following the sale, the director now directly owns 83,204 shares in the company, valued at approximately $20,696,162.96. The trade was a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,030 shares of company stock worth $2,702,687 over the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

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.