ResMed Inc. (NYSE:RMD) Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC grew its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,608 shares of the medical equipment provider's stock after purchasing an additional 1,575 shares during the period. NorthCrest Asset Manangement LLC's holdings in ResMed were worth $12,224,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Howard Capital Management Inc. grew its holdings in ResMed by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after acquiring an additional 45 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of ResMed by 9.7% in the 1st quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock valued at $126,000 after buying an additional 50 shares in the last quarter. Faithward Advisors LLC raised its position in shares of ResMed by 4.3% in the 4th quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock valued at $292,000 after purchasing an additional 53 shares during the last quarter. Portside Wealth Group LLC raised its position in shares of ResMed by 3.8% in the 1st quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider's stock valued at $326,000 after purchasing an additional 54 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its position in shares of ResMed by 4.6% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 1,356 shares of the medical equipment provider's stock valued at $310,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 54.98% of the company's stock.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction 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 sale, the director now owns 71,218 shares of the company's stock, valued at approximately $17,252,560.50. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Monday, June 9th. The shares were sold at an average price of $251.21, for a total transaction of $2,011,940.89. Following the completion of the sale, the chief executive officer now directly owns 455,503 shares in the company, valued at $114,426,908.63. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,132 shares of company stock valued at $7,075,837 in the last three months. 0.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RMD. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Royal Bank of Canada increased their price objective on shares of ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research report on Thursday, April 24th. Mizuho set a $265.00 price objective on shares of ResMed in a research report on Wednesday, April 16th. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $259.33.

ResMed Stock Performance

RMD traded down $3.05 during trading on Friday, reaching $249.16. 427,411 shares of the company's stock were exchanged, compared to its average volume of 1,010,486. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market capitalization of $36.53 billion, a P/E ratio of 29.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The company's fifty day simple moving average is $236.81 and its 200-day simple moving average is $234.74.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The business's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.13 EPS. As a group, research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced 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 0.85%. The ex-dividend date was Thursday, May 8th. ResMed's dividend payout ratio (DPR) is 23.79%.

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.