Horizon Investment Services LLC Makes New Investment in ResMed Inc. (NYSE:RMD)

Horizon Investment Services LLC acquired a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,043 shares of the medical equipment provider's stock, valued at approximately $1,611,000.

Other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its holdings 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 purchasing an additional 439 shares in the last quarter. Peak Financial Advisors LLC purchased a new position in ResMed in the fourth quarter valued at about $2,972,000. Principal Financial Group Inc. increased its holdings 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 lifted its position in shares of 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 acquiring an additional 1,100 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in shares of ResMed by 2.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock worth $14,105,000 after acquiring an additional 1,629 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RMD. Stifel Nicolaus dropped their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research note on Friday, January 31st. Morgan Stanley assumed coverage on shares of ResMed in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price objective on the stock. KeyCorp raised their target price on shares of ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $249.73.

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ResMed Trading Down 0.8 %

Shares of NYSE RMD traded down $1.71 on Tuesday, reaching $222.14. 676,029 shares of the company traded hands, compared to its average volume of 1,002,143. The stock has a market capitalization of $32.62 billion, a PE ratio of 26.23, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $233.37 and a 200 day moving average of $237.83.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating 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%. On average, equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. ResMed's dividend payout ratio (DPR) is 25.03%.

Insider Activity

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 9,725 shares in the company, valued at $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were 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 of the company's stock, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock valued at $9,164,385 in the last three months. Corporate insiders own 0.71% of the company's stock.

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.