Pittenger & Anderson Inc. Has $14.61 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

Pittenger & Anderson Inc. increased its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,271 shares of the medical equipment provider's stock after acquiring an additional 2,734 shares during the quarter. Pittenger & Anderson Inc.'s holdings in ResMed were worth $14,611,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Stephens Investment Management Group LLC increased its stake in shares of ResMed by 7.7% during the first quarter. Stephens Investment Management Group LLC now owns 357,985 shares of the medical equipment provider's stock valued at $80,135,000 after acquiring an additional 25,485 shares during the period. Ballentine Partners LLC lifted its stake in shares of ResMed by 6.3% in the 1st quarter. Ballentine Partners LLC now owns 1,782 shares of the medical equipment provider's stock valued at $399,000 after purchasing an additional 105 shares during the last quarter. SkyOak Wealth LLC acquired a new stake in shares of ResMed in the 1st quarter valued at $243,000. WealthTrust Asset Management LLC acquired a new stake in shares of ResMed in the 1st quarter valued at $799,000. Finally, Xponance Inc. lifted its position in ResMed by 1.2% during the 1st quarter. Xponance Inc. now owns 29,061 shares of the medical equipment provider's stock worth $6,505,000 after acquiring an additional 353 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $256.72, for a total transaction of $2,056,070.48. Following the sale, the chief executive officer directly owned 455,503 shares of the company's stock, valued at $116,936,730.16. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 945 shares of the firm's stock in a transaction that occurred on 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 transaction, the director directly owned 68,273 shares in the company, 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 have sold 29,013 shares of company stock valued at $7,238,913 over the last three months. 0.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on RMD shares. 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 upped 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. Piper Sandler cut their price objective on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. KeyCorp set a $274.00 price objective on shares of ResMed in a research report on Thursday, April 24th. Finally, Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $259.33.

ResMed Price Performance

ResMed stock traded down $3.92 during trading hours on Friday, hitting $254.15. 517,805 shares of the stock were exchanged, compared to its average volume of 969,500. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.49 and a current ratio of 3.41. The stock has a market capitalization of $37.27 billion, a P/E ratio of 28.52, a P/E/G ratio of 1.59 and a beta of 0.77. ResMed Inc. has a 12 month low of $196.43 and a 12 month high of $263.05. The business's 50-day moving average is $250.36 and its two-hundred day moving average is $236.75.

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, topping the consensus estimate of $2.36 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 earnings per share. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. ResMed's dividend payout ratio (DPR) is currently 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.