Hillsdale Investment Management Inc. Has $748,000 Stock Holdings in ResMed Inc. (NYSE:RMD)

Hillsdale Investment Management Inc. lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 3.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,270 shares of the medical equipment provider’s stock after buying an additional 100 shares during the period. Hillsdale Investment Management Inc.’s holdings in ResMed were worth $748,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RMD. True Wealth Design LLC boosted its stake in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of ResMed during the 4th quarter worth about $39,000. BankPlus Trust Department acquired a new position in shares of ResMed during the 4th quarter worth about $44,000. Rosenberg Matthew Hamilton acquired a new position in shares of ResMed during the 4th quarter worth about $54,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of ResMed during the 4th quarter worth about $67,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RMD has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, March 15th. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. KeyCorp raised their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Morgan Stanley initiated coverage on shares of ResMed in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $246.83.

ResMed Stock Down 0.6 %

Shares of RMD opened at $219.77 on Monday. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The firm’s 50 day moving average is $234.91 and its 200-day moving average is $238.98. The stock has a market capitalization of $32.28 billion, a PE ratio of 25.95, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 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%. Equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. ResMed’s dividend payout ratio is presently 25.03%.

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $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. Insiders have sold 38,940 shares of company stock valued at $9,164,385 over the last three months. 0.71% of the stock is owned by insiders.

About ResMed

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.