LPL Financial LLC Acquires 20,135 Shares of ResMed Inc. (NYSE:RMD)

LPL Financial LLC grew its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 60.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,342 shares of the medical equipment provider's stock after acquiring an additional 20,135 shares during the period. LPL Financial LLC's holdings in ResMed were worth $12,199,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Simplify Asset Management Inc. acquired a new position in shares of ResMed during the 4th quarter valued at about $6,893,000. Harbor Advisors LLC bought a new position in shares of ResMed in the fourth quarter valued at approximately $343,000. Fox Run Management L.L.C. acquired a new stake in shares of ResMed in the fourth quarter worth $903,000. KLP Kapitalforvaltning AS acquired a new stake in shares of ResMed in the fourth quarter worth $20,411,000. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of ResMed by 3.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,270 shares of the medical equipment provider's stock worth $748,000 after buying an additional 100 shares during the period. 54.98% of the stock is owned by institutional investors.

ResMed Price Performance

Shares of ResMed stock traded up $7.89 during midday trading on Monday, hitting $213.06. 2,203,316 shares of the company were exchanged, compared to its average volume of 1,009,725. 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 firm has a 50 day simple moving average of $229.90 and a 200-day simple moving average of $236.73. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The firm has a market cap of $31.29 billion, a P/E ratio of 25.15, a PEG ratio of 1.53 and a beta of 0.75.

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ResMed (NYSE:RMD - Get Free Report) last issued its earnings results 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 net margin of 25.34% and a return on equity of 26.17%. Research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

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 1.00%. The ex-dividend date was Thursday, February 13th. ResMed's payout ratio is currently 25.03%.

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 9,113 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on 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 transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,004 shares of company stock valued at $9,618,128 in the last three months. Corporate insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RMD. Morgan Stanley assumed coverage on ResMed in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price target on the stock. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Stifel Nicolaus cut their price target on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. KeyCorp raised their price objective on shares of ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Piper Sandler upped their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ResMed currently has a consensus 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.