National Wealth Management Group LLC Buys Shares of 2,775 ResMed Inc. (NYSE:RMD)

National Wealth Management Group LLC bought a new stake in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, Holdings Channel reports. The firm bought 2,775 shares of the medical equipment provider’s stock, valued at approximately $477,000.

A number of other institutional investors also recently modified their holdings of the stock. MV Capital Management Inc. increased its stake in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 60 shares during the period. Great Lakes Advisors LLC increased its stake in ResMed by 2.6% in the third quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock valued at $391,000 after acquiring an additional 68 shares during the period. Harfst & Associates Inc. increased its stake in ResMed by 0.7% in the third quarter. Harfst & Associates Inc. now owns 10,995 shares of the medical equipment provider’s stock valued at $1,626,000 after acquiring an additional 73 shares during the period. Czech National Bank increased its stake in ResMed by 0.3% in the fourth quarter. Czech National Bank now owns 25,762 shares of the medical equipment provider’s stock valued at $4,432,000 after acquiring an additional 81 shares during the period. Finally, Global Retirement Partners LLC increased its stake in ResMed by 12.9% in the third quarter. Global Retirement Partners LLC now owns 840 shares of the medical equipment provider’s stock valued at $124,000 after acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Up 0.8 %

NYSE RMD traded up $1.50 during trading hours on Monday, hitting $180.35. The company’s stock had a trading volume of 1,119,628 shares, compared to its average volume of 1,011,460. The stock has a fifty day moving average of $186.14 and a 200 day moving average of $171.04. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $243.52. The firm has a market capitalization of $26.53 billion, a P/E ratio of 29.81, a PEG ratio of 2.19 and a beta of 0.67. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $1.66 earnings per share. ResMed’s revenue was up 12.5% compared to the same quarter last year. Equities research analysts forecast that ResMed Inc. will post 7.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.06%. The ex-dividend date was Wednesday, February 7th. ResMed’s payout ratio is presently 31.74%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,216 shares of company stock valued at $2,046,617. Corporate insiders own 1.21% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Royal Bank of Canada upped their price objective on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. UBS Group upped their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Mizuho reaffirmed a “buy” rating and set a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Finally, Oppenheimer upped their price objective on shares of ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.20.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.