Fox Run Management L.L.C. Buys New Shares in ResMed Inc. (NYSE:RMD)

Fox Run Management L.L.C. purchased a new position in ResMed Inc. (NYSE:RMD - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,950 shares of the medical equipment provider's stock, valued at approximately $903,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. True Wealth Design LLC grew its holdings in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 110 shares in the last quarter. OFI Invest Asset Management purchased a new stake in ResMed in the 4th quarter worth approximately $39,000. BankPlus Trust Department purchased a new position in shares of ResMed during the 4th quarter valued at $44,000. Rosenberg Matthew Hamilton acquired a new stake in ResMed during the fourth quarter valued at $54,000. Finally, SBI Securities Co. Ltd. purchased a new position in ResMed in the fourth quarter valued at about $67,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research note on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a research note on Thursday, January 16th. They set a "buy" rating on the stock. Stifel Nicolaus cut their price target 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. KeyCorp upped their price objective on shares of ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and a consensus price target of $246.83.

Remove Ads

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company's 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 sale, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,940 shares of company stock worth $9,164,385. Insiders own 0.71% of the company's stock.

ResMed Stock Performance

RMD traded up $0.74 on Thursday, hitting $222.62. 484,081 shares of the stock traded hands, compared to its average volume of 952,497. The business has a fifty day moving average price of $234.39 and a two-hundred day moving average price of $238.55. 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 52 week low of $172.19 and a 52 week high of $263.05. The firm has a market capitalization of $32.69 billion, a PE ratio of 26.28, a P/E/G ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD - Get Free Report) last issued 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 return on equity of 26.17% and a net margin of 25.34%. On average, research analysts predict 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 was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued 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 currently 25.03%.

ResMed Company 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.