Personal CFO Solutions LLC Invests $295,000 in ResMed Inc. (NYSE:RMD)

Personal CFO Solutions LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) in the 4th quarter, Holdings Channel reports. The firm purchased 1,291 shares of the medical equipment provider’s stock, valued at approximately $295,000.

Several other institutional investors also recently modified their holdings of RMD. Concurrent Investment Advisors LLC increased its holdings in shares of ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after buying an additional 57 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after purchasing an additional 5,284 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of ResMed by 1.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 53,893 shares of the medical equipment provider’s stock worth $13,156,000 after purchasing an additional 524 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of ResMed in the third quarter worth $34,000. Finally, Venturi Wealth Management LLC grew its stake in shares of ResMed by 55.7% in the third quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock worth $83,000 after purchasing an additional 122 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Up 2.1 %

NYSE:RMD opened at $237.42 on Tuesday. 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 firm has a market cap of $34.87 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The firm has a 50-day moving average price of $236.86 and a two-hundred day moving average price of $240.13.

ResMed (NYSE:RMD) last issued its quarterly 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%. On average, equities analysts expect that ResMed Inc. will post 9.47 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 issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were 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 directly owns 75,218 shares of the company’s stock, valued at $17,127,890.78. This trade represents a 2.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,186 shares of company stock valued at $4,996,646. Company insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

RMD has been the topic of several analyst reports. KeyCorp boosted 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. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. 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 research report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $243.82.

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.