Nations Financial Group Inc. IA ADV Invests $2 Million in ResMed Inc. (NYSE:RMD)

Nations Financial Group Inc. IA ADV purchased a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,728 shares of the medical equipment provider's stock, valued at approximately $1,996,000.

A number of other hedge funds have also modified their holdings of the company. True Wealth Design LLC lifted its holdings in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 110 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of ResMed during the third quarter valued at approximately $34,000. Rosenberg Matthew Hamilton purchased a new position in shares of ResMed in the fourth quarter worth $54,000. Capital Performance Advisors LLP bought a new position in shares of ResMed during the third quarter worth $60,000. Finally, Kentucky Trust Co purchased a new position in ResMed during the fourth quarter valued at $82,000. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Up 1.7 %

NYSE:RMD traded up $3.90 during mid-day trading on Wednesday, reaching $234.48. The company's stock had a trading volume of 926,014 shares, compared to its average volume of 977,597. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $34.44 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.54 and a beta of 0.70. The stock has a fifty day moving average of $237.99 and a 200-day moving average of $239.04. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) 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%. Equities research analysts forecast that ResMed Inc. will post 9.44 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, February 13th. ResMed's payout ratio is 25.03%.

Analyst Upgrades and Downgrades

Several brokerages have commented on RMD. Stifel Nicolaus began coverage on shares of ResMed in a research note on Friday, December 13th. They issued a "hold" rating and a $250.00 price target on the stock. The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They issued a "buy" rating on the stock. Robert W. Baird raised their price target on ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a report on Friday, October 25th. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $244.73.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the sale, the director now directly owns 81,218 shares of the company's stock, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,307 shares of company stock worth $4,403,180 in the last three months. 0.71% of the stock is owned by insiders.

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.