Parcion Private Wealth LLC Has $7.45 Million Holdings in ResMed Inc. (NYSE:RMD)

Parcion Private Wealth LLC lifted its position in ResMed Inc. (NYSE:RMD - Free Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,259 shares of the medical equipment provider's stock after acquiring an additional 1,044 shares during the quarter. Parcion Private Wealth LLC's holdings in ResMed were worth $7,445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of ResMed by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock valued at $4,156,089,000 after acquiring an additional 160,590 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ResMed by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock worth $899,860,000 after buying an additional 85,270 shares during the period. Invesco Ltd. raised its stake in shares of 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 period. Northern Trust Corp lifted its holdings in ResMed by 20.6% in the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider's stock valued at $389,365,000 after purchasing an additional 290,664 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in ResMed by 28.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 954,612 shares of the medical equipment provider's stock valued at $218,310,000 after purchasing an additional 212,201 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Up 0.6%

Shares of RMD stock traded up $1.61 during trading hours on Friday, reaching $258.03. The company had a trading volume of 288,046 shares, compared to its average volume of 965,959. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.49 and a current ratio of 3.41. ResMed Inc. has a twelve month low of $196.43 and a twelve month high of $263.05. The company has a market capitalization of $37.83 billion, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 1.59 and a beta of 0.77. The stock's fifty day simple moving average is $251.28 and its 200 day simple moving average is $237.32.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 25.67% and a net margin of 26.15%. ResMed's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.13 EPS. As a group, sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Mizuho raised their price objective on ResMed from $250.00 to $270.00 and gave the stock an "outperform" rating in a research report on Wednesday. Morgan Stanley set a $286.00 price objective on ResMed and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Piper Sandler reduced their price objective on ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. UBS Group reduced their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their target price on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ResMed has an average rating of "Moderate Buy" and an average price target of $263.00.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $256.72, for a total value of $2,056,070.48. Following the completion of the sale, the chief executive officer directly owned 455,503 shares of the company's stock, valued at approximately $116,936,730.16. This represents a 1.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 945 shares of the company's stock in a transaction dated 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 sale, the director directly owned 68,273 shares of the company's stock, valued at $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. In the last 90 days, insiders have sold 29,013 shares of company stock valued at $7,238,913. Corporate insiders own 0.71% of the company's stock.

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.