Stephens Investment Management Group LLC Lowers Position in ResMed Inc. (NYSE:RMD)

Stephens Investment Management Group LLC reduced its stake in ResMed Inc. (NYSE:RMD) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 332,500 shares of the medical equipment provider’s stock after selling 4,054 shares during the period. Stephens Investment Management Group LLC’s holdings in ResMed were worth $76,039,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Peak Financial Advisors LLC purchased a new stake in shares of ResMed in the 4th quarter valued at approximately $2,972,000. Principal Financial Group Inc. raised its position in ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after purchasing an additional 5,284 shares during the period. Retireful LLC acquired a new position in ResMed during the third quarter worth $742,000. Spire Wealth Management boosted its position in shares of ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after buying an additional 1,100 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake 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 buying an additional 2,878 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,094 shares of company stock worth $2,704,941 in the last 90 days. Company insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on RMD. JPMorgan Chase & Co. increased their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Royal Bank of Canada lifted their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus initiated coverage on shares of ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 target price on the stock. Finally, Robert W. Baird raised their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

ResMed Stock Down 0.1 %

RMD stock opened at $236.84 on Friday. The company’s 50 day moving average is $239.18 and its two-hundred day moving average is $237.39. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $263.05. 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 stock has a market cap of $34.78 billion, a P/E ratio of 27.96, a PEG ratio of 1.57 and a beta of 0.70.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Research analysts expect that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, February 13th. ResMed’s 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.