500 Shares in ResMed Inc. (NYSE:RMD) Acquired by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI purchased a new position in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 500 shares of the medical equipment provider’s stock, valued at approximately $114,000.

A number of other institutional investors and hedge funds have also modified their holdings of RMD. True Wealth Design LLC lifted its stake in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in ResMed in the 3rd quarter valued at approximately $34,000. Rosenberg Matthew Hamilton purchased a new stake in ResMed in the 4th quarter valued at approximately $54,000. Capital Performance Advisors LLP purchased a new stake in ResMed in the 3rd quarter valued at approximately $60,000. Finally, Venturi Wealth Management LLC lifted its stake in ResMed by 55.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock valued at $83,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Down 0.7 %

Shares of ResMed stock opened at $232.89 on Friday. The business has a 50-day moving average of $237.76 and a 200-day moving average of $239.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company has a market capitalization of $34.20 billion, a PE ratio of 27.50, a P/E/G ratio of 1.55 and a beta of 0.70. ResMed Inc. has a 1-year low of $170.56 and a 1-year high of $263.05.

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

ResMed Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. ResMed’s dividend payout ratio (DPR) is 25.03%.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, December 4th. The stock was 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 directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated 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 in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,147 shares of company stock worth $2,905,745. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RMD. Robert W. Baird upped their target price on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Royal Bank of Canada upped their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. The Goldman Sachs Group initiated coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating on the stock. Finally, KeyCorp increased their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

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.