Pittenger & Anderson Inc. Has $6.24 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

Pittenger & Anderson Inc. trimmed its stake in ResMed Inc. (NYSE:RMD) by 39.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,301 shares of the medical equipment provider’s stock after selling 23,562 shares during the quarter. Pittenger & Anderson Inc.’s holdings in ResMed were worth $6,244,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its stake in shares of ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 128 shares in the last quarter. Planned Solutions Inc. bought a new position in shares of ResMed in the 4th quarter valued at about $34,000. Riverview Trust Co increased its stake in shares of ResMed by 255.9% during the 3rd quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 151 shares during the last quarter. MV Capital Management Inc. raised its holdings in shares of ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares during the period. Finally, Operose Advisors LLC acquired a new stake in ResMed in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

RMD has been the topic of a number of recent analyst reports. Mizuho reissued a “buy” rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Royal Bank of Canada increased their price target on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday. Oppenheimer lifted their price objective on shares of ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. KeyCorp increased their price objective on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $203.30.

ResMed Price Performance

Shares of RMD stock traded up $32.83 during trading on Friday, hitting $216.25. The company had a trading volume of 2,890,077 shares, compared to its average volume of 1,037,911. The stock’s 50-day moving average price is $186.31 and its 200 day moving average price is $171.47. ResMed Inc. has a one year low of $132.24 and a one year high of $243.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The firm has a market capitalization of $31.81 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 2.25 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 for the quarter, compared to analyst estimates of $1.17 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. ResMed’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.68 EPS. Equities analysts expect that ResMed Inc. will post 7.47 EPS for the current fiscal year.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was 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 $1,158,696. The disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock valued at $2,046,617 in the last ninety days. 1.21% of the stock is currently owned by company 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.