Pacer Advisors Inc. Boosts Stock Position in ResMed Inc. $RMD

Key Points

• Pacer Advisors increased its ResMed stake by 5.5% in the first quarter, adding 26,466 shares to own 506,378 shares valued at approximately $113.7 million. Institutional investors collectively hold 54.98% of RMD.
• ResMed exceeded quarterly expectations, reporting $2.86 in EPS and $1.43 billion in revenue, with revenue up 10.8% year over year. Analysts project $11.14 in EPS for the current fiscal year.
• Analyst sentiment remains mixed, with seven Buy ratings and nine Holds; the consensus rating is Hold with a $246.25 price target. Meanwhile, CEO Michael Farrell sold 4,991 shares under a pre-arranged Rule 10b5-1 plan.

Pacer Advisors Inc. lifted its stake in ResMed Inc. (NYSE:RMD - Free Report) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 506,378 shares of the medical equipment provider's stock after acquiring an additional 26,466 shares during the period. Pacer Advisors Inc. owned approximately 0.35% of ResMed worth $113,672,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RMD. Terra Nova Asset Management LLC lifted its holdings in ResMed by 0.6% during the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider's stock worth $2,136,000 after purchasing an additional 46 shares in the last quarter. Kera Capital Partners Inc. boosted its stake in ResMed by 6.6% in the 4th quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider's stock worth $217,000 after purchasing an additional 52 shares during the period. Andina Capital Management LLC grew its holdings in ResMed by 2.9% during the 4th quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider's stock valued at $479,000 after buying an additional 56 shares in the last quarter. New Wave Wealth Advisors LLC grew its holdings in ResMed by 3.0% during the 4th quarter. New Wave Wealth Advisors LLC now owns 1,956 shares of the medical equipment provider's stock valued at $471,000 after buying an additional 57 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC increased its position in shares of ResMed by 6.2% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 994 shares of the medical equipment provider's stock valued at $223,000 after buying an additional 58 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $101,893,036.65. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,973 shares of company stock valued at $3,096,067 over the last quarter. Company insiders own 0.65% of the company's stock.

ResMed Price Performance

Shares of NYSE RMD opened at $211.39 on Monday. The stock's 50-day simple moving average is $198.86 and its two-hundred day simple moving average is $223.34. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81. The firm has a market capitalization of $30.66 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.28 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company posted $2.37 EPS. The company's revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts anticipate that ResMed Inc. will post 11.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Evercore set a $255.00 price target on shares of ResMed and gave the stock an "outperform" rating in a report on Monday, April 13th. Citigroup reaffirmed a "neutral" rating and set a $235.00 price objective (down from $270.00) on shares of ResMed in a research note on Sunday, July 12th. KeyCorp decreased their target price on shares of ResMed from $290.00 to $266.00 and set an "overweight" rating on the stock in a report on Monday, June 22nd. Royal Bank Of Canada cut shares of ResMed from an "outperform" rating to a "sector perform" rating and set a $234.00 target price on the stock. in a research note on Thursday, July 16th. Finally, Jefferies Financial Group cut their price target on shares of ResMed from $240.00 to $225.00 and set a "hold" rating for the company in a report on Friday, July 10th. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, ResMed has a consensus rating of "Hold" and a consensus target price of $246.25.

ResMed Company Profile

ResMed NYSE: RMD is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed's product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.

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