Sagespring Wealth Partners LLC Purchases Shares of 1,531 ResMed Inc. (NYSE:RMD)

Sagespring Wealth Partners LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,531 shares of the medical equipment provider's stock, valued at approximately $350,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in 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 buying an additional 439 shares during the period. Peak Financial Advisors LLC acquired a new stake in ResMed in the fourth quarter worth $2,972,000. Principal Financial Group Inc. increased its stake in ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider's stock valued at $45,596,000 after purchasing an additional 5,284 shares in the last quarter. Spire Wealth Management raised its stake in shares of ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock worth $2,470,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in ResMed by 2.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock valued at $14,105,000 after buying an additional 1,629 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RMD shares. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a report on Tuesday. Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Stifel Nicolaus dropped their price target on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a report on Friday, January 31st. One equities research 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 company. According to data from MarketBeat.com, ResMed currently has an average rating of "Moderate Buy" and a consensus target price of $251.00.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business's 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 sale, the director now directly owns 77,218 shares of the company's stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the sale, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,013 shares of company stock valued at $11,298,816 over the last 90 days. Insiders own 0.71% of the company's stock.

ResMed Price Performance

Shares of NYSE:RMD traded up $1.40 on Friday, hitting $212.89. The company's stock had a trading volume of 1,109,562 shares, compared to its average volume of 1,024,057. ResMed Inc. has a 1 year low of $176.92 and a 1 year high of $263.05. 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 company has a market capitalization of $31.27 billion, a PE ratio of 25.13, a PEG ratio of 1.53 and a beta of 0.75. The company has a 50-day simple moving average of $223.12 and a 200 day simple moving average of $234.52.

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

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 1.00%. ResMed's dividend payout ratio is presently 25.03%.

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.