Impact Partnership Wealth LLC Takes Position in ResMed Inc. (NYSE:RMD)

Impact Partnership Wealth LLC acquired a new stake in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,208 shares of the medical equipment provider’s stock, valued at approximately $505,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mutual Advisors LLC bought a new position in shares of ResMed in the fourth quarter valued at approximately $208,000. True North Advisors LLC bought a new position in ResMed in the 4th quarter worth $257,000. SG Americas Securities LLC lifted its position in ResMed by 272.6% during the 4th quarter. SG Americas Securities LLC now owns 19,100 shares of the medical equipment provider’s stock worth $4,368,000 after acquiring an additional 13,974 shares during the last quarter. Dakota Wealth Management bought a new stake in ResMed during the fourth quarter valued at about $2,854,000. Finally, Simon Quick Advisors LLC boosted its holdings in ResMed by 9.0% during the fourth quarter. Simon Quick Advisors LLC now owns 1,649 shares of the medical equipment provider’s stock valued at $377,000 after acquiring an additional 136 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RMD shares. Robert W. Baird lifted their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Stifel Nicolaus assumed coverage on shares of ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 target price on the stock. Finally, KeyCorp upped their target price on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ResMed has an average rating of “Hold” and an average target price of $233.09.

Insider Transactions at ResMed

In other ResMed news, Director Witte Jan De sold 796 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,099 shares of company stock valued at $2,719,385. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $248.90 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The company has a 50-day moving average of $238.59 and a 200-day moving average of $233.90. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $260.49. The company has a market capitalization of $36.54 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 1.78 and a beta of 0.70.

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

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.