Chicago Partners Investment Group LLC Buys New Stake in ResMed Inc. (NYSE:RMD)

Chicago Partners Investment Group LLC purchased a new stake in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,438 shares of the medical equipment provider’s stock, valued at approximately $340,000.

A number of other hedge funds also recently bought and sold shares of the business. True Wealth Design LLC raised its position in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in ResMed during the third quarter valued at approximately $34,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed in the 4th quarter valued at approximately $54,000. Capital Performance Advisors LLP purchased a new position in shares of ResMed in the 3rd quarter worth approximately $60,000. Finally, Venturi Wealth Management LLC increased its position in shares of ResMed by 55.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock valued at $83,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

RMD opened at $240.73 on Wednesday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $240.00 and its 200-day simple moving average is $236.89. The company has a market capitalization of $35.34 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 1.69 and a beta of 0.70. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $263.05.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating 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%. On average, equities research analysts anticipate that ResMed Inc. will post 9.41 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction dated 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 $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,094 shares of company stock worth $2,220,721 over the last 90 days. Company insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on RMD shares. Royal Bank of Canada raised their price target on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted 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, January 31st. KeyCorp raised their price objective on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Stifel Nicolaus started 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, Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on 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.