Stegent Equity Advisors Inc. Invests $795,000 in ResMed Inc. (NYSE:RMD)

Stegent Equity Advisors Inc. purchased a new position in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,478 shares of the medical equipment provider’s stock, valued at approximately $795,000.

A number of other large investors have also made changes to their positions in the business. State Street Corp increased its position in shares of ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after purchasing 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 valued at $939,114,000 after buying an additional 380,383 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $225,578,000 after buying an additional 13,985 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of ResMed by 0.3% during the third 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 buying an additional 2,406 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after buying an additional 250,746 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction 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 represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,147 shares of company stock valued at $2,905,745 in the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

ResMed Trading Down 0.7 %

RMD stock opened at $234.46 on Thursday. The company’s 50-day simple moving average is $237.15 and its 200-day simple moving average is $239.62. 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 52-week low of $170.56 and a 52-week high of $263.05. The firm has a market cap of $34.43 billion, a P/E ratio of 27.68, a PEG ratio of 1.53 and a beta of 0.70.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, equities analysts forecast that ResMed Inc. will post 9.47 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. Stockholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RMD shares. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Stifel Nicolaus began coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Piper Sandler upped 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. One 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.