Harbor Advisors LLC Takes Position in ResMed Inc. (NYSE:RMD)

Harbor Advisors LLC acquired a new stake in ResMed Inc. (NYSE:RMD) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 1,500 shares of the medical equipment provider’s stock, valued at approximately $343,000.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC grew its holdings in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of ResMed in the 4th quarter valued at about $39,000. BankPlus Trust Department acquired a new stake in ResMed in the 4th quarter valued at about $44,000. Rosenberg Matthew Hamilton acquired a new stake in ResMed in the 4th quarter valued at about $54,000. Finally, SBI Securities Co. Ltd. acquired a new stake in ResMed in the 4th quarter valued at about $67,000. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RMD. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. KeyCorp lifted their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $246.83.

Insider Activity at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the transaction, the insider now owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This represents a 50.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, February 7th. The shares were 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 $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock valued at $9,164,385 over the last three months. 0.71% of the stock is owned by insiders.

ResMed Stock Performance

Shares of NYSE:RMD opened at $219.77 on Friday. The company’s 50 day simple moving average is $234.91 and its 200 day simple moving average is $239.02. The stock has a market capitalization of $32.28 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings data 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 25.34% and a return on equity of 26.17%. As a group, research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. ResMed’s dividend payout ratio (DPR) is 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.