Parallel Advisors LLC Purchases 102 Shares of ResMed Inc. (NYSE:RMD)

Parallel Advisors LLC raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,697 shares of the medical equipment provider’s stock after purchasing an additional 102 shares during the period. Parallel Advisors LLC’s holdings in ResMed were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Howard Capital Management Inc. boosted its stake in ResMed by 5.3% in the fourth 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 grew its stake in shares of ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 48 shares during the period. SkyView Investment Advisors LLC increased its holdings in ResMed by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after purchasing an additional 51 shares during the last quarter. Wedmont Private Capital lifted its stake in ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after buying an additional 52 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in ResMed by 8.1% during the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after buying an additional 68 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the transaction, the insider now owns 9,725 shares in the company, valued at approximately $2,327,289.75. This trade represents a 50.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock valued at $9,164,385 over the last three months. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RMD shares. JPMorgan Chase & Co. upped their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Stifel Nicolaus cut their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. Finally, UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $246.83.

ResMed Trading Down 0.6 %

NYSE RMD opened at $219.77 on Friday. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $234.91 and a 200-day moving average of $239.06. The company has a market cap of $32.28 billion, a PE ratio of 25.95, a PEG ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating 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%. On average, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.96%. ResMed’s dividend payout ratio is 25.03%.

ResMed 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.