Main Street Research LLC Takes $206,000 Position in ResMed Inc. (NYSE:RMD)

Main Street Research LLC bought a new stake in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,200 shares of the medical equipment provider’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC bought a new stake in ResMed in the third quarter valued at about $26,000. Compass Wealth Management LLC bought a new stake in ResMed in the fourth quarter valued at about $26,000. International Assets Investment Management LLC bought a new stake in ResMed in the third quarter valued at about $27,000. EverSource Wealth Advisors LLC increased its stake in ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 128 shares during the period. Finally, Planned Solutions Inc. bought a new stake in ResMed in the fourth quarter valued at about $34,000. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD traded up $0.05 during mid-day trading on Tuesday, hitting $185.14. 155,003 shares of the company traded hands, compared to its average volume of 966,403. ResMed Inc. has a one year low of $132.24 and a one year high of $243.52. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average of $186.79 and a 200 day moving average of $169.88. The stock has a market capitalization of $27.23 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 2.30 and a beta of 0.67.

ResMed (NYSE:RMD) last released its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm earned $1.66 earnings per share. ResMed’s revenue was up 12.5% compared to the same quarter last year. As a group, equities analysts expect that ResMed Inc. will post 7.45 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were issued a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 annualized dividend and a yield of 1.04%. ResMed’s dividend payout ratio is currently 31.74%.

Analyst Ratings Changes

RMD has been the topic of a number of analyst reports. Oppenheimer upped their target price on shares of ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. UBS Group upped their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Mizuho reaffirmed a “buy” rating and set a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Finally, Needham & Company LLC upped their price objective on shares of ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.20.

Insider Activity at ResMed

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

ResMed Profile

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.