Arcadia Investment Management Corp MI Makes New Investment in ResMed Inc. (NYSE:RMD)

Arcadia Investment Management Corp MI bought a new position in ResMed Inc. (NYSE:RMD) during the fourth quarter, Holdings Channel reports. The institutional investor bought 500 shares of the medical equipment provider’s stock, valued at approximately $114,000.

Other large investors have also recently bought and sold shares of the company. Tandem Investment Advisors Inc. raised its holdings in shares of ResMed by 1.0% during the fourth quarter. Tandem Investment Advisors Inc. now owns 501,747 shares of the medical equipment provider’s stock valued at $114,745,000 after buying an additional 5,087 shares during the last quarter. Parcion Private Wealth LLC raised its holdings in shares of ResMed by 0.9% during the fourth quarter. Parcion Private Wealth LLC now owns 32,215 shares of the medical equipment provider’s stock valued at $7,367,000 after buying an additional 302 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of ResMed during the fourth quarter valued at approximately $1,441,000. Handelsbanken Fonder AB raised its holdings in shares of ResMed by 5.5% during the fourth quarter. Handelsbanken Fonder AB now owns 86,029 shares of the medical equipment provider’s stock valued at $19,674,000 after buying an additional 4,475 shares during the last quarter. Finally, Cumberland Partners Ltd raised its holdings in shares of ResMed by 550.0% during the fourth quarter. Cumberland Partners Ltd now owns 13,000 shares of the medical equipment provider’s stock valued at $2,973,000 after buying an additional 11,000 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

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

ResMed Trading Down 0.7 %

ResMed stock opened at $232.89 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The firm has a market cap of $34.20 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth 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. The firm’s 50 day moving average price is $237.76 and its two-hundred day moving average price is $239.01.

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

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.91%. ResMed’s dividend payout ratio (DPR) is 25.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RMD shares. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Piper Sandler lifted their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. The Goldman Sachs Group started coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, Robert W. Baird boosted their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus price target of $244.73.

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.