Kentucky Trust Co Invests $82,000 in ResMed Inc. (NYSE:RMD)

Kentucky Trust Co acquired a new position in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 360 shares of the medical equipment provider’s stock, valued at approximately $82,000.

Other large investors have also added to or reduced their stakes in the company. Peak Financial Advisors LLC bought a new position in ResMed in the 4th quarter valued at about $2,972,000. Principal Financial Group Inc. lifted its position in ResMed by 2.9% in the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after acquiring an additional 5,284 shares in the last quarter. Spire Wealth Management lifted its position in ResMed by 11.3% in the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock valued at $2,470,000 after acquiring an additional 1,100 shares in the last quarter. Retireful LLC bought a new position in ResMed in the 3rd quarter valued at about $742,000. Finally, Asset Management One Co. Ltd. lifted its position in ResMed by 5.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock valued at $14,369,000 after acquiring an additional 2,878 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.4 %

Shares of RMD stock opened at $236.40 on Thursday. The company has a 50 day moving average of $238.87 and a 200-day moving average of $238.30. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $263.05. The firm has a market cap of $34.72 billion, a P/E ratio of 27.91, a PEG ratio of 1.57 and a beta of 0.70.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (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%. Sell-side analysts anticipate that ResMed Inc. will post 9.44 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. ResMed’s dividend payout ratio is 25.03%.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,307 shares of company stock worth $4,403,180. Corporate insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on RMD. The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Royal Bank of Canada lifted their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $244.73.

ResMed Profile

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.