Occidental Asset Management LLC Invests $332,000 in ResMed Inc. (NYSE:RMD)

Occidental Asset Management LLC purchased a new position in ResMed Inc. (NYSE:RMD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,453 shares of the medical equipment provider’s stock, valued at approximately $332,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RMD. Peak Financial Advisors LLC acquired a new position in ResMed during the fourth quarter worth $2,972,000. Principal Financial Group Inc. raised its holdings in shares of ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after acquiring an additional 5,284 shares during the period. Retireful LLC purchased a new stake in shares of ResMed in the third quarter valued at about $742,000. Asset Management One Co. Ltd. grew its holdings in shares of ResMed by 5.1% in the third quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock valued at $14,369,000 after purchasing an additional 2,878 shares during the period. Finally, Empowered Funds LLC increased its position in ResMed by 284.3% during the third quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock worth $2,004,000 after purchasing an additional 6,072 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Trading Up 1.2 %

Shares of RMD stock opened at $239.89 on Friday. ResMed Inc. has a fifty-two week low of $170.39 and a fifty-two week high of $260.49. The company has a 50 day moving average price of $238.51 and a 200 day moving average price of $232.47. The stock has a market capitalization of $35.22 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.64 earnings per share. Equities research analysts predict that ResMed Inc. will post 9.36 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Thursday, November 7th. ResMed’s dividend payout ratio is currently 28.08%.

Insider Activity

In other news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,099 shares of company stock worth $2,719,385. 0.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. KeyCorp increased their price target on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday. They issued a “buy” rating for the company. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus began coverage on ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ResMed presently has a consensus rating of “Hold” and a consensus target price of $233.09.

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.