Cypress Asset Management Inc. TX Takes $211,000 Position in ResMed Inc. (NYSE:RMD)

Cypress Asset Management Inc. TX purchased a new stake in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,225 shares of the medical equipment provider’s stock, valued at approximately $211,000.

A number of other institutional investors have also recently made changes to their positions in RMD. EverSource Wealth Advisors LLC boosted its holdings in shares of ResMed by 224.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 128 shares during the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of ResMed during the 4th quarter valued at about $27,000. Operose Advisors LLC bought a new position in shares of ResMed in the 3rd quarter worth approximately $32,000. Planned Solutions Inc. bought a new position in shares of ResMed in the 4th quarter worth approximately $34,000. Finally, MV Capital Management Inc. lifted its stake in shares of ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of ResMed stock traded up $1.68 on Friday, hitting $213.26. 309,946 shares of the company traded hands, compared to its average volume of 1,016,542. The stock has a market capitalization of $31.33 billion, a P/E ratio of 32.81, a price-to-earnings-growth ratio of 2.16 and a beta of 0.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $229.97. The business has a 50-day simple moving average of $199.70 and a 200 day simple moving average of $181.71.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.22. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.68 earnings per share. Research analysts expect that ResMed Inc. will post 7.64 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RMD shares. Royal Bank of Canada increased their price objective on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Mizuho reiterated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. KeyCorp increased their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Oppenheimer lowered their price objective on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, UBS Group raised their target price on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $202.80.

Insider Activity at ResMed

In related news, Director Witte Jan De sold 360 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the transaction, the director now directly owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the completion of the transaction, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at $95,422,808. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Witte Jan De sold 360 shares of ResMed stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total transaction of $78,584.40. Following the transaction, the director now directly owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,749 shares of company stock valued at $3,398,025. 1.21% of the stock is owned by corporate insiders.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.