47,237 Shares in ResMed Inc. (NYSE:RMD) Bought by Moran Wealth Management LLC

Moran Wealth Management LLC bought a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 47,237 shares of the medical equipment provider's stock, valued at approximately $10,574,000.

Several other hedge funds also recently added to or reduced their stakes in RMD. Global X Japan Co. Ltd. raised its stake in shares of ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 68 shares during the last quarter. Colonial Trust Co SC grew its holdings in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 125 shares during the period. Optiver Holding B.V. acquired a new stake in ResMed during the fourth quarter worth about $33,000. Itau Unibanco Holding S.A. raised its position in ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in ResMed in the fourth quarter valued at approximately $39,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $95,580,799.20. The trade was a 1.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $242.25, for a total value of $484,500.00. Following the completion of the sale, the director now owns 71,218 shares of the company's stock, valued at $17,252,560.50. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,132 shares of company stock worth $7,075,837. Corporate insiders own 0.71% of the company's stock.

ResMed Trading Up 0.6%

Shares of ResMed stock opened at $256.06 on Wednesday. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12. ResMed Inc. has a twelve month low of $180.34 and a twelve month high of $263.05. The firm has a market capitalization of $37.55 billion, a PE ratio of 28.74, a P/E/G ratio of 1.75 and a beta of 0.78. The firm's 50-day moving average price is $242.35 and its 200 day moving average price is $235.09.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The business's revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 earnings per share. On average, sell-side analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were paid 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 dividend payout ratio is currently 23.79%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RMD shares. Mizuho set a $265.00 price objective on shares of ResMed in a research note on Wednesday, April 16th. Stifel Nicolaus lowered their price target on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. KeyCorp set a $274.00 price target on shares of ResMed in a research report on Thursday, April 24th. Royal Bank Of Canada upped their price objective on shares of ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $259.33.

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.

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