Dakota Wealth Management Acquires Shares of 12,480 ResMed Inc. (NYSE:RMD)

Dakota Wealth Management acquired a new position in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,480 shares of the medical equipment provider’s stock, valued at approximately $2,854,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC increased its position in 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 buying an additional 110 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of ResMed during the third quarter worth approximately $34,000. Rosenberg Matthew Hamilton acquired a new position in shares of ResMed in the 4th quarter valued at $54,000. Capital Performance Advisors LLP purchased a new stake in ResMed in the 3rd quarter valued at $60,000. Finally, Quarry LP boosted its stake in ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 242 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the completion of the transaction, the director now owns 83,204 shares in the company, valued at approximately $20,696,162.96. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Witte Jan De sold 796 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,099 shares of company stock worth $2,719,385. Company insiders own 0.71% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $247.36 on Thursday. The company has a market cap of $36.31 billion, a P/E ratio of 32.76, a price-to-earnings-growth ratio of 1.79 and a beta of 0.70. ResMed Inc. has a one year low of $170.56 and a one year high of $260.49. The business has a fifty day moving average of $238.35 and a two-hundred day moving average of $233.80. 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 released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm earned $1.64 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, analysts predict that ResMed Inc. will post 9.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on RMD. Robert W. Baird lifted their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Stifel Nicolaus initiated coverage on ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price objective for the company. KeyCorp increased their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Bank of America boosted their target price on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have issued 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, the stock currently has an average 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.