1,851 Shares in ResMed Inc. (NYSE:RMD) Purchased by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,851 shares of the medical equipment provider's stock, valued at approximately $414,000.

Several other hedge funds have also bought and sold shares of the business. Global X Japan Co. Ltd. raised its holdings in ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after buying an additional 68 shares during the last quarter. Colonial Trust Co SC raised its holdings in ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after buying an additional 125 shares during the last quarter. Optiver Holding B.V. purchased a new position in ResMed in the fourth quarter worth about $33,000. Golden State Wealth Management LLC raised its holdings in ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after buying an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its holdings in ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after buying an additional 150 shares during the last quarter. Institutional investors own 54.98% of the company's stock.

ResMed Stock Down 0.5%

Shares of RMD stock opened at $255.02 on Monday. ResMed Inc. has a 12 month low of $186.22 and a 12 month high of $271.41. The stock has a market cap of $37.39 billion, a P/E ratio of 28.62, a P/E/G ratio of 1.76 and a beta of 0.78. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12. The company has a 50 day simple moving average of $244.99 and a two-hundred day simple moving average of $235.27.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The company's revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.13 earnings per share. On average, research analysts expect that ResMed Inc. will post 9.47 earnings per share 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 given a $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. ResMed's payout ratio is currently 23.79%.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $251.21, for a total value of $2,011,940.89. Following the completion of the transaction, the chief executive officer now directly owns 455,503 shares in the company, valued at $114,426,908.63. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total transaction of $484,500.00. Following the completion of the transaction, the director now owns 71,218 shares of the company's stock, valued at approximately $17,252,560.50. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,132 shares of company stock worth $7,075,837 over the last three months. 0.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RMD. UBS Group decreased their target price on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Royal Bank Of Canada boosted their price objective on shares of ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a report on Thursday, April 24th. Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Stifel Nicolaus decreased their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ResMed has a consensus rating of "Moderate Buy" and an average price target of $259.33.

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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