Peak Financial Advisors LLC Acquires Shares of 12,997 ResMed Inc. (NYSE:RMD)

Peak Financial Advisors LLC bought a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,997 shares of the medical equipment provider's stock, valued at approximately $2,972,000. ResMed comprises 1.5% of Peak Financial Advisors LLC's holdings, making the stock its 23rd largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its holdings in shares of ResMed by 1.9% in the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock valued at $1,528,590,000 after purchasing an additional 116,918 shares during the period. Geode Capital Management LLC increased its stake in ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock worth $939,114,000 after acquiring an additional 380,383 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in ResMed by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider's stock valued at $225,578,000 after purchasing an additional 13,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of ResMed by 0.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider's stock worth $181,237,000 after purchasing an additional 2,406 shares during the period. Finally, Greenvale Capital LLP raised its holdings in ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock valued at $138,780,000 after buying an additional 275,000 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ResMed news, insider Justin Leong sold 6,160 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares of the company's stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Witte Jan De sold 796 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,099 shares of company stock worth $2,719,385 in the last 90 days. Company insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RMD. StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. Robert W. Baird upped their price target on ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Baird R W raised ResMed to a "strong-buy" rating in a research note on Tuesday, September 24th. Royal Bank of Canada raised their target price on ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. Finally, Wolfe Research reiterated an "underperform" rating and set a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $233.09.

ResMed Stock Up 1.8 %

Shares of ResMed stock traded up $4.18 during trading hours on Wednesday, hitting $233.01. The company had a trading volume of 558,466 shares, compared to its average volume of 696,615. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The company's 50-day moving average is $239.24 and its two-hundred day moving average is $232.06. The company has a market cap of $34.20 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 1.73 and a beta of 0.70. ResMed Inc. has a twelve month low of $168.29 and a twelve month high of $260.49.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the business posted $1.64 EPS. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. Analysts anticipate that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.91%. ResMed's dividend payout ratio (DPR) is 28.08%.

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.