Guggenheim Capital LLC Buys 2,056 Shares of ResMed Inc. (NYSE:RMD)

Guggenheim Capital LLC raised its position in shares of ResMed Inc. (NYSE:RMD) by 51.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,032 shares of the medical equipment provider’s stock after purchasing an additional 2,056 shares during the period. Guggenheim Capital LLC’s holdings in ResMed were worth $1,379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in RMD. Howard Capital Management Inc. lifted its stake in ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after acquiring an additional 45 shares during the period. SkyView Investment Advisors LLC boosted its stake in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after purchasing an additional 51 shares in the last quarter. Wedmont Private Capital increased its holdings in ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after buying an additional 52 shares during the period. Faithward Advisors LLC raised its stake in ResMed by 4.3% in the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider’s stock worth $292,000 after buying an additional 53 shares in the last quarter. Finally, HighPoint Advisor Group LLC boosted its position in ResMed by 2.6% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider’s stock valued at $610,000 after acquiring an additional 64 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares of the company’s stock, valued at $2,289,265. This represents a 48.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,013 shares of company stock worth $11,298,816 in the last 90 days. Insiders own 0.71% of the company’s stock.

ResMed Stock Down 0.9 %

Shares of NYSE RMD opened at $211.04 on Tuesday. The stock has a market cap of $30.99 billion, a PE ratio of 24.92, a P/E/G ratio of 1.53 and a beta of 0.75. The company has a 50-day moving average of $222.61 and a 200 day moving average of $234.30. ResMed Inc. has a 12-month low of $178.49 and a 12-month high of $263.05. 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 released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, sell-side analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 1.00%. ResMed’s dividend payout ratio (DPR) is 25.03%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RMD shares. JPMorgan Chase & Co. upped their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Morgan Stanley initiated coverage on shares of ResMed in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price objective on the stock. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Finally, StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $250.08.

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.