Proficio Capital Partners LLC Acquires New Holdings in ResMed Inc. (NYSE:RMD)

Proficio Capital Partners LLC bought a new position in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, HoldingsChannel.com reports. The firm bought 963 shares of the medical equipment provider’s stock, valued at approximately $220,000.

Several other large investors have also recently made changes to their positions in the stock. Atria Investments Inc raised its holdings in ResMed by 21.5% in the fourth quarter. Atria Investments Inc now owns 2,106 shares of the medical equipment provider’s stock worth $482,000 after purchasing an additional 372 shares in the last quarter. Assetmark Inc. grew its holdings in ResMed by 6,173.9% in the fourth quarter. Assetmark Inc. now owns 1,443 shares of the medical equipment provider’s stock worth $330,000 after purchasing an additional 1,420 shares during the last quarter. Smithfield Trust Co increased its position in shares of ResMed by 39.7% during the fourth quarter. Smithfield Trust Co now owns 704 shares of the medical equipment provider’s stock worth $160,000 after purchasing an additional 200 shares in the last quarter. WoodTrust Financial Corp raised its stake in ResMed by 1.3% in the fourth quarter. WoodTrust Financial Corp now owns 7,620 shares of the medical equipment provider’s stock valued at $1,743,000 after buying an additional 100 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of ResMed by 16.6% during the fourth quarter. Victory Capital Management Inc. now owns 136,029 shares of the medical equipment provider’s stock valued at $31,108,000 after acquiring an additional 19,319 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

ResMed Trading Up 0.3 %

Shares of RMD stock opened at $222.62 on Friday. The company has a 50-day moving average of $234.10 and a two-hundred day moving average of $238.43. The firm has a market cap of $32.69 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. 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 (NYSE:RMD) last announced its earnings results 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 return on equity of 26.17% and a net margin of 25.34%. On average, analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Thursday, February 13th. ResMed’s payout ratio is presently 25.03%.

Insider Transactions at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s 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 sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RMD has been the topic of several research reports. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Morgan Stanley assumed coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price target on the stock. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, KeyCorp boosted their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $249.73.

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.