True North Advisors LLC Buys Shares of 1,125 ResMed Inc. (NYSE:RMD)

True North Advisors LLC acquired a new stake in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,125 shares of the medical equipment provider’s stock, valued at approximately $257,000.

Several other large investors have also modified their holdings of the stock. Peak Financial Advisors LLC purchased a new stake in ResMed during the fourth quarter worth approximately $2,972,000. Principal Financial Group Inc. lifted its holdings 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 worth $45,596,000 after purchasing an additional 5,284 shares during the period. Retireful LLC acquired a new stake in shares of ResMed in the 3rd quarter worth approximately $742,000. Asset Management One Co. Ltd. boosted its stake in ResMed by 5.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock valued at $14,369,000 after purchasing an additional 2,878 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of ResMed by 284.3% during the 3rd quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock valued at $2,004,000 after purchasing an additional 6,072 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RMD. Bank of America upped their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada boosted their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” 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 target price for the company. Robert W. Baird increased their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $233.09.

ResMed Price Performance

ResMed stock opened at $248.90 on Friday. The stock’s 50 day moving average is $238.59 and its 200-day moving average is $233.90. The company has a market capitalization of $36.54 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 1.79 and a beta of 0.70. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company earned $1.64 EPS. ResMed’s revenue was up 11.1% compared to the same quarter last year. Equities research analysts expect that ResMed Inc. will post 9.35 EPS for the current year.

Insider Activity

In other ResMed news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the sale, the director now directly owns 83,204 shares of the company’s stock, valued at $20,696,162.96. This represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock valued at $2,719,385 in the last ninety days. 0.71% of the stock is owned by company insiders.

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.