1,736 Shares in ResMed Inc. (NYSE:RMD) Bought by Argentarii LLC

Argentarii LLC acquired a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,736 shares of the medical equipment provider's stock, valued at approximately $389,000.

A number of other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its position in shares of ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 127 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of ResMed by 393.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,529 shares of the medical equipment provider's stock worth $566,000 after buying an additional 2,016 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of ResMed by 38.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,888 shares of the medical equipment provider's stock worth $432,000 after buying an additional 523 shares during the last quarter. Atria Investments Inc boosted its stake in shares of ResMed by 21.5% in the 4th quarter. Atria Investments Inc now owns 2,106 shares of the medical equipment provider's stock worth $482,000 after buying an additional 372 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in ResMed during the fourth quarter worth $347,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total value of $484,500.00. Following the sale, the director owned 71,218 shares in the company, valued at approximately $17,252,560.50. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Witte Jan De sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director owned 5,806 shares in the company, valued at $1,413,586.82. This represents a 25.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,013 shares of company stock worth $6,863,532 in the last three months. Corporate insiders own 0.71% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RMD shares. Royal Bank Of Canada upped their price objective on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research note on Thursday, April 24th. KeyCorp set a $274.00 price target on shares of ResMed in a research report on Thursday, April 24th. Mizuho set a $265.00 price objective on shares of ResMed in a report on Wednesday, April 16th. Piper Sandler dropped their target price on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Finally, Morgan Stanley set a $286.00 price target on shares of ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $259.33.

ResMed Price Performance

ResMed stock opened at $256.96 on Friday. The firm has a market capitalization of $37.68 billion, a P/E ratio of 28.84, a PEG ratio of 1.61 and a beta of 0.77. ResMed Inc. has a one year low of $188.56 and a one year high of $263.05. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.49. The business has a fifty day moving average price of $248.43 and a 200-day moving average price of $235.95.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.13 earnings per share. As a group, equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.83%. The ex-dividend date was Thursday, May 8th. ResMed's payout ratio is 23.79%.

ResMed Company 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.

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