892 Shares in ResMed Inc. (NYSE:RMD) Bought by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC acquired a new stake in ResMed Inc. (NYSE:RMD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 892 shares of the medical equipment provider’s stock, valued at approximately $204,000.

Other large investors also recently bought and sold shares of the company. Kentucky Trust Co acquired a new position in shares of ResMed during the fourth quarter worth about $82,000. Savant Capital LLC increased its position in ResMed by 4.7% during the 4th quarter. Savant Capital LLC now owns 10,796 shares of the medical equipment provider’s stock worth $2,469,000 after purchasing an additional 487 shares during the period. Kestra Private Wealth Services LLC raised its stake in shares of ResMed by 116.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 8,743 shares of the medical equipment provider’s stock worth $1,999,000 after buying an additional 4,702 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of ResMed by 47.5% in the 4th quarter. Empowered Funds LLC now owns 12,110 shares of the medical equipment provider’s stock valued at $2,769,000 after buying an additional 3,902 shares during the period. Finally, Hendershot Investments Inc. boosted its stake in shares of ResMed by 2.1% in the fourth quarter. Hendershot Investments Inc. now owns 45,456 shares of the medical equipment provider’s stock valued at $10,395,000 after buying an additional 914 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In other news, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This represents a 22.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,307 shares of company stock valued at $4,403,180 in the last quarter. 0.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank of Canada raised their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus started coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. Robert W. Baird boosted their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Stock Down 2.7 %

Shares of NYSE:RMD opened at $232.93 on Friday. The company has a market capitalization of $34.21 billion, a P/E ratio of 27.50, a P/E/G ratio of 1.57 and a beta of 0.70. The stock’s fifty day simple moving average is $238.68 and its 200-day simple moving average is $238.30. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts forecast that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.91%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

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.