Alpha DNA Investment Management LLC Purchases New Holdings in ResMed Inc. (NYSE:RMD)

Alpha DNA Investment Management LLC purchased a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,355 shares of the medical equipment provider's stock, valued at approximately $767,000.

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

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at $95,580,799.20. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,013 shares of company stock valued at $11,298,816. 0.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on RMD shares. The Goldman Sachs Group started coverage on shares of ResMed in a report on Thursday, January 16th. They issued a "buy" rating for the company. Stifel Nicolaus dropped their target price on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Mizuho set a $265.00 price objective on ResMed in a research report on Wednesday, April 16th. Morgan Stanley initiated coverage on ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price objective on the stock. Finally, UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $250.08.

ResMed Trading Up 0.9 %

Shares of RMD stock traded up $1.95 during trading hours on Wednesday, reaching $216.03. The company's stock had a trading volume of 636,599 shares, compared to its average volume of 1,021,824. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a one year low of $179.00 and a one year high of $263.05. The stock has a market capitalization of $31.73 billion, a P/E ratio of 25.51, a P/E/G ratio of 1.53 and a beta of 0.75. The firm's fifty day simple moving average is $222.11 and its 200 day simple moving average is $234.16.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data 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 return on equity of 26.17% and a net margin of 25.34%. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared 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 0.98%. The ex-dividend date of this dividend 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.