6,685 Shares in ResMed Inc. (NYSE:RMD) Acquired by Machina Capital S.A.S.

Machina Capital S.A.S. purchased a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,685 shares of the medical equipment provider's stock, valued at approximately $1,496,000.

A number of other hedge funds also recently made changes to their positions in the stock. Hendershot Investments Inc. increased its position in ResMed by 3.0% during the 1st quarter. Hendershot Investments Inc. now owns 46,830 shares of the medical equipment provider's stock worth $10,483,000 after purchasing an additional 1,374 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co raised its position in ResMed by 2.9% in the first quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 52,488 shares of the medical equipment provider's stock valued at $11,749,000 after purchasing an additional 1,496 shares during the period. Wakefield Asset Management LLLP boosted its position in shares of ResMed by 1.5% in the first quarter. Wakefield Asset Management LLLP now owns 14,653 shares of the medical equipment provider's stock worth $3,280,000 after buying an additional 221 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of ResMed by 43.4% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,520 shares of the medical equipment provider's stock valued at $340,000 after buying an additional 460 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of ResMed by 12.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 95,874 shares of the medical equipment provider's stock valued at $21,461,000 after buying an additional 10,431 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RMD. Piper Sandler decreased their target price on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. UBS Group reduced their price target on 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 raised ResMed from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $255.00 to $294.00 in a research report on Tuesday, July 15th. KeyCorp set a $274.00 price target on ResMed in a research report on Thursday, April 24th. Finally, Mizuho boosted their price objective on ResMed from $250.00 to $270.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $263.00.

ResMed Stock Performance

Shares of NYSE:RMD traded up $1.79 during midday trading on Friday, hitting $275.29. The company's stock had a trading volume of 1,063,916 shares, compared to its average volume of 824,604. ResMed Inc. has a fifty-two week low of $196.43 and a fifty-two week high of $275.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.49 and a current ratio of 3.41. The stock has a market capitalization of $40.36 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 1.71 and a beta of 0.77. The stock's 50 day simple moving average is $253.70 and its 200 day simple moving average is $238.86.

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

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 945 shares of ResMed stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total transaction of $241,438.05. Following the sale, the director owned 68,273 shares in the company, valued at $17,443,068.77. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $256.72, for a total transaction of $2,056,070.48. Following the sale, the chief executive officer owned 455,503 shares in the company, valued at approximately $116,936,730.16. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,013 shares of company stock worth $7,238,913. Company insiders own 0.71% of the company's stock.

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.