AdvisorShares Investments LLC Purchases Shares of 29,672 ResMed Inc. $RMD

AdvisorShares Investments LLC acquired a new stake in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 29,672 shares of the medical equipment provider’s stock, valued at approximately $7,147,000. ResMed makes up approximately 1.2% of AdvisorShares Investments LLC’s investment portfolio, making the stock its 27th largest position.

Several other hedge funds have also added to or reduced their stakes in RMD. Imprint Wealth LLC purchased a new position in shares of ResMed in the third quarter worth about $26,000. WFA of San Diego LLC purchased a new position in shares of ResMed in the second quarter worth about $26,000. International Assets Investment Management LLC purchased a new position in shares of ResMed in the fourth quarter worth about $25,000. ORG Partners LLC increased its holdings in shares of ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 69 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in shares of ResMed in the third quarter worth about $31,000. 54.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RMD shares. KeyCorp decreased their price objective on ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a report on Monday, April 27th. Evercore set a $255.00 price target on ResMed and gave the company an “outperform” rating in a report on Monday, April 13th. Weiss Ratings downgraded ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Wells Fargo & Company reduced their price target on ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Finally, Robert W. Baird set a $225.00 price target on ResMed in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.18.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $117,035,959.69. This trade represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,973 shares of company stock worth $4,386,031 over the last ninety days. 0.65% of the stock is currently owned by insiders.

ResMed Stock Performance

Shares of RMD opened at $190.58 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average price is $216.93 and its 200-day moving average price is $239.34. ResMed Inc. has a 52 week low of $190.38 and a 52 week high of $293.81. The stock has a market cap of $27.64 billion, a P/E ratio of 18.38, a P/E/G ratio of 1.30 and a beta of 0.84.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm posted $2.37 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts anticipate that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s payout ratio is currently 23.14%.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.