Edgestream Partners L.P. Buys Shares of 22,419 ResMed Inc. (NYSE:RMD)

Edgestream Partners L.P. bought a new position in ResMed Inc. (NYSE:RMD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,419 shares of the medical equipment provider's stock, valued at approximately $5,018,000.

Several other large investors have also made changes to their positions in the company. Florida Financial Advisors LLC purchased a new position in ResMed in the first quarter valued at about $209,000. Marks Group Wealth Management Inc purchased a new position in ResMed in the first quarter valued at about $8,513,000. Reyes Financial Architecture Inc. purchased a new position in ResMed in the first quarter valued at about $172,000. Oxbow Advisors LLC raised its position in ResMed by 2.0% in the first quarter. Oxbow Advisors LLC now owns 12,585 shares of the medical equipment provider's stock valued at $2,817,000 after purchasing an additional 245 shares during the period. Finally, Pittenger & Anderson Inc. raised its position in ResMed by 4.4% in the first quarter. Pittenger & Anderson Inc. now owns 65,271 shares of the medical equipment provider's stock valued at $14,611,000 after purchasing an additional 2,734 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Up 0.5%

NYSE:RMD traded up $1.22 during mid-day trading on Friday, reaching $257.64. The stock had a trading volume of 894,150 shares, compared to its average volume of 969,740. The company has a market capitalization of $37.78 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 1.61 and a beta of 0.77. ResMed Inc. has a 1-year low of $196.43 and a 1-year high of $263.05. The stock's 50 day simple moving average is $251.53 and its two-hundred day simple moving average is $237.52. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.49.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS 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 the consensus estimate of $1.28 billion. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $2.13 earnings per share. Equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were paid a $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a yield of 0.82%. ResMed's payout ratio is currently 23.79%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Witte Jan De sold 2,000 shares of ResMed stock in a transaction that occurred on 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 directly owned 5,806 shares in the company, valued at $1,413,586.82. The trade was a 25.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed 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 transaction, the director owned 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 29,013 shares of company stock worth $7,238,913 over the last ninety days. Company insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

RMD has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on ResMed from $286.00 to $290.00 and gave the company 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. Royal Bank Of Canada raised ResMed from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $255.00 to $294.00 in a research report on Tuesday. Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Mizuho lifted their target price on ResMed from $250.00 to $270.00 and gave the stock an "outperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $263.00.

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.