Harbor Advisors LLC Invests $343,000 in ResMed Inc. (NYSE:RMD)

Harbor Advisors LLC bought a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,500 shares of the medical equipment provider's stock, valued at approximately $343,000.

Several other large investors have also made changes to their positions in RMD. First Horizon Advisors Inc. raised its stake in shares of ResMed by 285.1% in the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock valued at $136,000 after buying an additional 439 shares in the last quarter. Peak Financial Advisors LLC bought a new stake in shares of ResMed in the 4th quarter worth about $2,972,000. Principal Financial Group Inc. increased its holdings in shares of ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider's stock worth $45,596,000 after buying an additional 5,284 shares in the last quarter. Spire Wealth Management increased its holdings in ResMed by 11.3% during the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock valued at $2,470,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in ResMed by 2.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock valued at $14,105,000 after purchasing an additional 1,629 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on RMD shares. Piper Sandler raised their price target on shares of ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a report on Friday, January 31st. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday. Stifel Nicolaus lowered their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ResMed currently has an average rating of "Moderate Buy" and a consensus price target of $246.83.

Remove Ads

Insider Transactions at ResMed

In other news, insider Kaushik Ghoshal sold 9,745 shares of the company's stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the sale, the chief executive officer now owns 455,472 shares in the company, valued at approximately $104,394,182.40. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,940 shares of company stock valued at $9,164,385. Corporate insiders own 0.71% of the company's stock.

ResMed Stock Up 0.3 %

RMD stock traded up $0.74 during mid-day trading on Thursday, reaching $222.62. The company had a trading volume of 484,081 shares, compared to its average volume of 952,497. The company has a market capitalization of $32.69 billion, a price-to-earnings ratio of 26.28, a PEG 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. The stock has a 50 day simple moving average of $234.39 and a two-hundred day simple moving average of $238.55. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping 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, equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.95%. The ex-dividend date was Thursday, February 13th. ResMed's dividend payout ratio is currently 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.