1,600 Shares in ResMed Inc. (NYSE:RMD) Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC acquired a new stake in ResMed Inc. (NYSE:RMDFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,600 shares of the medical equipment provider’s stock, valued at approximately $275,000.

A number of other large investors have also modified their holdings of the company. Synergy Asset Management LLC raised its holdings in ResMed by 29.2% in the 4th quarter. Synergy Asset Management LLC now owns 69,383 shares of the medical equipment provider’s stock worth $11,935,000 after purchasing an additional 15,663 shares during the period. Inspire Advisors LLC raised its holdings in ResMed by 20.2% in the 3rd quarter. Inspire Advisors LLC now owns 1,553 shares of the medical equipment provider’s stock worth $230,000 after purchasing an additional 261 shares during the period. Nordea Investment Management AB raised its holdings in ResMed by 3.4% in the 4th quarter. Nordea Investment Management AB now owns 9,753 shares of the medical equipment provider’s stock worth $1,682,000 after purchasing an additional 324 shares during the period. Mackenzie Financial Corp raised its holdings in ResMed by 12.6% in the 3rd quarter. Mackenzie Financial Corp now owns 151,505 shares of the medical equipment provider’s stock worth $21,906,000 after purchasing an additional 16,966 shares during the period. Finally, Caxton Associates LP raised its holdings in ResMed by 85.0% in the 3rd quarter. Caxton Associates LP now owns 14,964 shares of the medical equipment provider’s stock worth $2,213,000 after purchasing an additional 6,877 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,216 shares of company stock worth $2,046,617. Company insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RMD. JPMorgan Chase & Co. upped their price target on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Oppenheimer increased their target price on ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Mizuho reissued a “buy” rating and set a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Needham & Company LLC increased their target price on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a report on Monday. Finally, Royal Bank of Canada increased their target price on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $199.20.

View Our Latest Analysis on RMD

ResMed Price Performance

RMD stock opened at $186.04 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. The business has a 50 day simple moving average of $186.80 and a 200-day simple moving average of $166.98. The firm has a market capitalization of $27.36 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $243.52.

ResMed (NYSE:RMDGet Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.07. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 earnings per share. Equities research analysts anticipate that ResMed Inc. will post 7.45 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were given a $0.48 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.92 annualized dividend and a yield of 1.03%. ResMed’s payout ratio is 31.74%.

ResMed Company Profile

(Free Report)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

Further Reading

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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