3,074 Shares in ResMed Inc. (NYSE:RMD) Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. acquired a new position in ResMed Inc. (NYSE:RMD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,074 shares of the medical equipment provider's stock, valued at approximately $688,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global X Japan Co. Ltd. boosted its position 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 purchasing an additional 68 shares during the last quarter. Colonial Trust Co SC boosted its position 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 purchasing an additional 125 shares during the last quarter. Optiver Holding B.V. purchased a new position in ResMed in the fourth quarter worth $33,000. Golden State Wealth Management LLC boosted its position 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 purchasing an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. boosted its position 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 purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $256.72, for a total transaction of $2,056,070.48. Following the sale, the chief executive officer directly owned 455,503 shares in the company, valued at approximately $116,936,730.16. The trade was a 1.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 945 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total value of $241,438.05. Following the transaction, the director owned 68,273 shares of the company's stock, valued at approximately $17,443,068.77. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,013 shares of company stock worth $7,238,913. 0.71% of the stock is owned by company insiders.

ResMed Stock Performance

Shares of NYSE:RMD traded down $3.92 during midday trading on Friday, reaching $254.15. 517,805 shares of the company traded hands, compared to its average volume of 968,637. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. ResMed Inc. has a 12 month low of $196.43 and a 12 month high of $263.05. The firm has a market capitalization of $37.27 billion, a price-to-earnings ratio of 28.52, a price-to-earnings-growth ratio of 1.62 and a beta of 0.77. The firm's fifty day moving average price is $250.36 and its two-hundred day moving average price is $236.72.

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

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend 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 23.79%.

Wall Street Analysts Forecast Growth

RMD has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. KeyCorp set a $274.00 price objective on ResMed in a research report on Thursday, April 24th. UBS Group cut their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Royal Bank Of Canada boosted their target price on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research note on Thursday, April 24th. Finally, Piper Sandler lowered their target price on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $259.33.

About ResMed

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.