ResMed Inc. (NYSE:RMD) Holdings Boosted by First Horizon Advisors Inc.

First Horizon Advisors Inc. grew its stake in shares of ResMed Inc. (NYSE:RMD) by 285.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 593 shares of the medical equipment provider’s stock after purchasing an additional 439 shares during the quarter. First Horizon Advisors Inc.’s holdings in ResMed were worth $136,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in RMD. Geode Capital Management LLC boosted its position in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after purchasing an additional 380,383 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after acquiring an additional 249,454 shares during the period. Nordea Investment Management AB grew its position in shares of ResMed by 92.7% during the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after acquiring an additional 215,561 shares during the last quarter. State Street Corp grew 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 acquiring an additional 116,918 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in shares of ResMed by 3,266.5% in the 4th quarter. AustralianSuper Pty Ltd now owns 103,923 shares of the medical equipment provider’s stock worth $23,766,000 after acquiring an additional 100,836 shares during the period. 54.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. KeyCorp boosted their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus initiated coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the sale, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,147 shares of company stock worth $2,905,745 in the last three months. 0.71% of the stock is currently owned by insiders.

ResMed Price Performance

Shares of ResMed stock opened at $234.46 on Thursday. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $263.05. 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 company’s 50-day moving average price is $237.15 and its two-hundred day moving average price is $239.62. The stock has a market cap of $34.43 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating 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, sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed 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 of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

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.