Mutual Advisors LLC Has $612,000 Holdings in ResMed Inc. (NYSE:RMD)

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of RMD. GAMMA Investing LLC increased its holdings in shares of 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 purchasing an additional 730,510 shares during the period. Invesco Ltd. grew its position in ResMed by 32.2% during the fourth 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 in the last quarter. Norges Bank bought a new position in ResMed during the fourth quarter valued at about $118,605,000. Captrust Financial Advisors raised its holdings in ResMed by 813.4% in the 4th quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider's stock valued at $101,387,000 after acquiring an additional 394,803 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in ResMed by 133.6% in the 4th quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider's stock valued at $142,944,000 after acquiring an additional 357,466 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Insiders Place Their Bets

In related news, Director Witte Jan De sold 2,000 shares of the company's stock in a transaction 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 completion of the sale, the director owned 5,806 shares in the company, valued at $1,413,586.82. This represents a 25.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 945 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total value of $241,438.05. Following the completion of the transaction, the director directly 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. Over the last three months, insiders have sold 29,013 shares of company stock worth $7,238,913. Company insiders own 0.71% of the company's stock.

ResMed Trading Down 1.3%

Shares of NYSE:RMD traded down $3.37 during midday trading on Wednesday, hitting $253.23. The company had a trading volume of 228,463 shares, compared to its average volume of 966,574. 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 Inc. has a 12 month low of $188.56 and a 12 month high of $263.05. The firm has a fifty day simple moving average of $249.26 and a 200 day simple moving average of $236.25. The stock has a market cap of $37.13 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 1.61 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 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 during the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the prior year, the business posted $2.13 EPS. ResMed's revenue was up 7.9% on a year-over-year basis. On average, analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.84%. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RMD shares. Morgan Stanley set a $286.00 price objective on ResMed and gave the stock an "overweight" rating in a report on Tuesday, May 20th. 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. 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 note on Thursday, April 24th. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Mizuho set a $265.00 price target on shares of ResMed in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock 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.