Pineridge Advisors LLC Takes $223,000 Position in ResMed Inc. (NYSE:RMD)

Pineridge Advisors LLC bought a new position in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,299 shares of the medical equipment provider’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC purchased a new stake in ResMed during the 4th quarter valued at about $27,000. Operose Advisors LLC acquired a new position in ResMed in the 3rd quarter worth about $32,000. Planned Solutions Inc. acquired a new position in ResMed in the 4th quarter worth about $34,000. MV Capital Management Inc. raised its holdings in ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in ResMed in the 4th quarter worth about $45,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 360 shares of ResMed stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the sale, the director now directly owns 7,519 shares in the company, valued at approximately $1,641,322.51. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Witte Jan De sold 360 shares of ResMed stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the transaction, the director now directly owns 7,519 shares in the company, valued at approximately $1,641,322.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen Drexler sold 425 shares of ResMed stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the transaction, the director now owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,151 shares of company stock valued at $6,666,409. 1.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RMD has been the subject of a number of analyst reports. KeyCorp upped their price target on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Royal Bank of Canada increased their price objective on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Needham & Company LLC raised their price target on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Mizuho restated a “buy” rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Finally, Oppenheimer dropped their price objective on ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed Stock Performance

Shares of NYSE RMD traded down $0.65 during midday trading on Friday, reaching $211.73. 1,113,732 shares of the company were exchanged, compared to its average volume of 786,775. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $229.97. The stock has a fifty day simple moving average of $205.71 and a 200 day simple moving average of $188.68. The stock has a market cap of $31.11 billion, a P/E ratio of 32.52, a PEG ratio of 2.08 and a beta of 0.68.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company posted $1.68 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. On average, research analysts forecast that ResMed Inc. will post 7.7 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s dividend payout ratio is presently 29.49%.

ResMed Company Profile

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.