Tidemark LLC Invests $133,000 in ResMed Inc. (NYSE:RMD)

Tidemark LLC purchased a new stake in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 771 shares of the medical equipment provider’s stock, valued at approximately $133,000.

A number of other large investors have also recently bought and sold shares of RMD. EverSource Wealth Advisors LLC increased its stake in ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 128 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of ResMed during the 4th quarter worth $27,000. Operose Advisors LLC bought a new stake in shares of ResMed during the 3rd quarter worth $32,000. Planned Solutions Inc. acquired a new stake in ResMed in the fourth quarter valued at about $34,000. Finally, MV Capital Management Inc. grew its position in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 60 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group increased their target price on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Royal Bank of Canada boosted their target price on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. KeyCorp increased their price target on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Mizuho restated a “buy” rating and set a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Finally, Needham & Company LLC lifted their price target on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

Insider Buying and Selling

In other news, Director Witte Jan De sold 360 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the sale, the director now owns 7,519 shares in the company, valued at $1,641,322.51. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Witte Jan De sold 360 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the sale, the director now owns 7,519 shares in the company, valued at $1,641,322.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,749 shares of company stock valued at $3,398,025. 1.21% of the stock is owned by company insiders.

ResMed Trading Down 2.3 %

Shares of ResMed stock traded down $5.06 on Thursday, reaching $213.21. 194,409 shares of the company’s stock were exchanged, compared to its average volume of 1,014,528. The company has a market capitalization of $31.32 billion, a P/E ratio of 33.02, a price-to-earnings-growth ratio of 2.16 and a beta of 0.64. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $229.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The firm’s 50-day moving average is $199.30 and its two-hundred day moving average is $181.50.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned $1.68 earnings per share. ResMed’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts predict that ResMed Inc. will post 7.64 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Wednesday, May 8th. ResMed’s payout ratio is 29.49%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.