Stegent Equity Advisors Inc. Acquires Shares of 3,478 ResMed Inc. (NYSE:RMD)

Stegent Equity Advisors Inc. acquired a new stake in shares of ResMed Inc. (NYSE:RMD) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,478 shares of the medical equipment provider’s stock, valued at approximately $795,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Howard Capital Management Inc. lifted its holdings in shares of ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after acquiring an additional 45 shares during the last quarter. Ascent Group LLC lifted its holdings in shares of ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after acquiring an additional 48 shares during the last quarter. SkyView Investment Advisors LLC lifted its holdings in shares of ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after acquiring an additional 51 shares during the last quarter. Wedmont Private Capital lifted its holdings in shares of ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after acquiring an additional 52 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of ResMed by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RMD. The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Stifel Nicolaus initiated coverage on shares of ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. Finally, Piper Sandler raised their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average price target of $244.73.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the transaction, the director now owns 81,218 shares of the company’s stock, valued at $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,147 shares of company stock valued at $2,905,745 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

ResMed Stock Performance

Shares of NYSE:RMD opened at $234.46 on Thursday. The firm has a market cap of $34.43 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. The firm’s 50 day simple moving average is $237.15 and its 200-day simple moving average is $239.62. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping 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%. As a group, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

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.