Transcend Capital Advisors LLC Purchases Shares of 1,466 ResMed Inc. (NYSE:RMD)

Transcend Capital Advisors LLC purchased a new stake in ResMed Inc. (NYSE:RMD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,466 shares of the medical equipment provider’s stock, valued at approximately $335,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RMD. True Wealth Design LLC raised its holdings in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of ResMed during the 3rd quarter valued at about $34,000. Rosenberg Matthew Hamilton purchased a new position in shares of ResMed during the 4th quarter valued at about $54,000. Capital Performance Advisors LLP purchased a new position in shares of ResMed during the 3rd quarter valued at about $60,000. Finally, Kentucky Trust Co purchased a new position in shares of ResMed during the 4th quarter valued at about $82,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD stock opened at $231.61 on Monday. The firm has a market cap of $34.02 billion, a P/E ratio of 27.34, a P/E/G ratio of 1.53 and a beta of 0.70. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05. The business’s 50 day moving average price is $237.43 and its 200-day moving average price is $239.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping 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 anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. ResMed’s dividend payout ratio is currently 25.03%.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares in the company, 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 through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,147 shares of company stock worth $2,905,745. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective 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 report on Friday, January 31st. Finally, Stifel Nicolaus initiated coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

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.