Raymond James Financial Inc. Invests $9.56 Million in ResMed Inc. (NYSE:RMD)

Raymond James Financial Inc. purchased a new position in ResMed Inc. (NYSE:RMD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 41,795 shares of the medical equipment provider's stock, valued at approximately $9,558,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in ResMed during the 3rd quarter valued at approximately $410,000. Thrivent Financial for Lutherans grew its holdings in ResMed by 12.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider's stock valued at $1,697,000 after buying an additional 755 shares in the last quarter. Quest Partners LLC grew its holdings in ResMed by 472.5% during the 3rd quarter. Quest Partners LLC now owns 1,872 shares of the medical equipment provider's stock valued at $457,000 after buying an additional 1,545 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of ResMed during the third quarter valued at approximately $1,715,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of ResMed by 435.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,594 shares of the medical equipment provider's stock worth $5,760,000 after buying an additional 19,184 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

ResMed Trading Down 0.7 %

NYSE:RMD traded down $1.51 during mid-day trading on Tuesday, hitting $221.40. 1,059,912 shares of the stock traded hands, compared to its average volume of 958,894. The company has a quick ratio of 2.29, a current ratio of 3.33 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 stock has a market capitalization of $32.52 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.53 and a beta of 0.74. The firm's 50 day moving average is $234.76 and its two-hundred day moving average is $238.83.

Remove Ads

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating 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, equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current 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 given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. ResMed's dividend payout ratio (DPR) is 25.03%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RMD shares. The Goldman Sachs Group initiated coverage on shares of ResMed in a report on Thursday, January 16th. They issued a "buy" rating on the stock. Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. raised their price target on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a report on Friday, January 31st. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus lowered their target price on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $246.83.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on 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. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by company insiders.

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.