Mutual Advisors LLC Boosts Position in ResMed Inc. (NYSE:RMD)

Mutual Advisors LLC grew its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 196.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,595 shares of the medical equipment provider's stock after buying an additional 1,719 shares during the quarter. Mutual Advisors LLC's holdings in ResMed were worth $612,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of RMD. GAMMA Investing LLC raised its position in ResMed by 23,982.6% during the 1st quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider's stock worth $164,207,000 after buying an additional 730,510 shares during the last quarter. Invesco Ltd. raised its position in ResMed by 32.2% during the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after buying an additional 566,046 shares during the last quarter. Norges Bank purchased a new position in ResMed during the 4th quarter worth $118,605,000. Captrust Financial Advisors raised its position in ResMed by 813.4% during the 4th quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider's stock worth $101,387,000 after buying an additional 394,803 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in ResMed by 133.6% during the 4th quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider's stock worth $142,944,000 after buying an additional 357,466 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Buying and Selling

In related news, Director Witte Jan De sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the sale, the director directly owned 5,806 shares of the company's stock, valued at approximately $1,413,586.82. This trade represents a 25.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 945 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 68,273 shares in the company, valued at $17,443,068.77. The trade was a 1.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,013 shares of company stock valued at $7,238,913. Insiders own 0.71% of the company's stock.

ResMed Trading Down 0.3%

Shares of ResMed stock traded down $0.84 during mid-day trading on Wednesday, hitting $255.75. 792,474 shares of the stock were exchanged, compared to its average volume of 968,834. ResMed Inc. has a twelve month low of $189.15 and a twelve month high of $263.05. The stock has a market capitalization of $37.50 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 1.61 and a beta of 0.77. The company has a 50-day simple moving average of $249.64 and a 200 day simple moving average of $236.39. 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 (NYSE:RMD - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the company earned $2.13 EPS. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. Research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. ResMed's dividend payout ratio is presently 23.79%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RMD. UBS Group cut their price target 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. JPMorgan Chase & Co. increased their price target on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Wall Street Zen downgraded shares of ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Morgan Stanley set a $286.00 price target on shares of ResMed and gave the company an "overweight" rating in a report on Tuesday, May 20th. Finally, Piper Sandler cut their price target on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and a consensus target price 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.