Sivik Global Healthcare LLC Buys New Position in ResMed Inc. (NYSE:RMD)

Sivik Global Healthcare LLC bought a new position in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 20,000 shares of the medical equipment provider’s stock, valued at approximately $3,440,000.

Other large investors have also recently made changes to their positions in the company. MV Capital Management Inc. boosted its holdings in ResMed by 39.0% during the 4th 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 period. Great Lakes Advisors LLC raised its holdings in shares of ResMed by 2.6% during the third quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock valued at $391,000 after acquiring an additional 68 shares in the last quarter. Harfst & Associates Inc. lifted its stake in ResMed by 0.7% in the third quarter. Harfst & Associates Inc. now owns 10,995 shares of the medical equipment provider’s stock worth $1,626,000 after acquiring an additional 73 shares during the period. Czech National Bank increased its position in ResMed by 0.3% during the 4th quarter. Czech National Bank now owns 25,762 shares of the medical equipment provider’s stock valued at $4,432,000 after purchasing an additional 81 shares during the period. Finally, Alliance Wealth Advisors LLC UT raised its stake in ResMed by 5.9% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 1,567 shares of the medical equipment provider’s stock worth $270,000 after buying an additional 88 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Performance

ResMed stock traded down $3.15 during trading on Tuesday, reaching $214.04. The company had a trading volume of 1,635,751 shares, compared to its average volume of 1,076,573. The firm’s 50-day simple moving average is $188.47 and its 200 day simple moving average is $173.40. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $240.09. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $31.48 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 2.65 and a beta of 0.67.

ResMed (NYSE:RMD) last released 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. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 EPS. Sell-side analysts forecast that ResMed Inc. will post 7.52 earnings per share for the current fiscal year.

ResMed Announces Dividend

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

Wall Street Analyst Weigh In

RMD has been the subject of several research reports. KeyCorp increased their price target on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada increased their price objective on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday. UBS Group lifted 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. Mizuho reiterated a “buy” rating and set a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. Finally, Needham & Company LLC upped their price objective on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.80.

Insider Buying and Selling at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ResMed news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the sale, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders sold a total of 11,641 shares of company stock valued at $2,137,958 in the last three months. 1.21% of the stock is currently owned by corporate insiders.

About ResMed

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.