Proficio Capital Partners LLC Invests $50.36 Million in ResMed Inc. (NYSE:RMD)

Proficio Capital Partners LLC bought a new position in shares of ResMed Inc. (NYSE:RMD) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 220,228 shares of the medical equipment provider’s stock, valued at approximately $50,364,000.

Several other large investors have also made changes to their positions in RMD. True Wealth Design LLC increased its position in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed during the third quarter worth approximately $34,000. BankPlus Trust Department purchased a new stake in shares of ResMed during the fourth quarter worth approximately $44,000. Rosenberg Matthew Hamilton purchased a new stake in shares of ResMed during the fourth quarter worth approximately $54,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of ResMed during the third quarter worth approximately $60,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,147 shares of company stock valued at $2,905,745 in the last quarter. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on RMD. JPMorgan Chase & Co. boosted their price target on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Stifel Nicolaus started coverage on ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, The Goldman Sachs Group started coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $244.73.

ResMed Price Performance

RMD opened at $231.03 on Friday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a market cap of $33.93 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.53 and a beta of 0.70. The stock’s 50-day moving average price is $237.14 and its 200 day moving average price is $239.56. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (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%. As a group, sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

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

ResMed Company 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.