Independent Advisor Alliance Takes $231,000 Position in ResMed Inc. (NYSE:RMD)

Independent Advisor Alliance acquired a new stake in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,008 shares of the medical equipment provider’s stock, valued at approximately $231,000.

A number of other hedge funds also recently bought and sold shares of RMD. State Street Corp raised its stake 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 in the last quarter. Geode Capital Management LLC raised its position in ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after purchasing an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in ResMed by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock worth $218,861,000 after purchasing an additional 32,973 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 period. Finally, Los Angeles Capital Management LLC grew its stake 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. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RMD. Piper Sandler boosted their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Saturday, March 15th. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $246.83.

ResMed Stock Performance

Shares of RMD opened at $222.07 on Thursday. The company has a 50-day simple moving average of $235.48 and a two-hundred day simple moving average of $239.36. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm has a market capitalization of $32.61 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock worth $9,164,385 in the last three months. 0.71% of the stock is owned by corporate insiders.

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.