Mutual Advisors LLC Buys 1,719 Shares of ResMed Inc. (NYSE:RMD)

Mutual Advisors LLC lifted its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 196.2% during the first quarter, according to the company in its most recent 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.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global X Japan Co. Ltd. lifted its stake in shares of ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 68 shares during the period. Colonial Trust Co SC lifted 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 period. Optiver Holding B.V. acquired a new position in shares of ResMed during the 4th quarter valued at $33,000. Golden State Wealth Management LLC raised its stake in shares of ResMed by 384.8% in the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after buying an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. lifted its holdings in shares of 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 valued at $38,000 after buying an additional 150 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Up 0.8%

RMD stock traded up $2.11 during trading on Thursday, hitting $258.09. The company had a trading volume of 637,702 shares, compared to its average volume of 982,402. The firm has a 50-day moving average price of $249.64 and a 200-day moving average price of $236.39. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The stock has a market cap of $37.84 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 1.61 and a beta of 0.77. ResMed Inc. has a 12 month low of $195.00 and a 12 month high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the company posted $2.13 EPS. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Thursday, May 8th. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Insider Transactions at ResMed

In other ResMed news, Director Witte Jan De sold 2,000 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the transaction, the director owned 5,806 shares in the company, valued at approximately $1,413,586.82. This represents a 25.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. Farrell sold 945 shares of the 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. Insiders sold 29,013 shares of company stock valued at $7,238,913 over the last quarter. Corporate insiders own 0.71% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on RMD. UBS Group lowered their price objective on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Piper Sandler lowered their target price on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada boosted their target price 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $259.33.

ResMed Company 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.