Welch & Forbes LLC Purchases 2,122 Shares of ResMed Inc. (NYSE:RMD)

Welch & Forbes LLC grew its position in ResMed Inc. (NYSE:RMD - Free Report) by 0.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 329,892 shares of the medical equipment provider's stock after acquiring an additional 2,122 shares during the period. Welch & Forbes LLC owned 0.22% of ResMed worth $73,847,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Cable Hill Partners LLC bought a new position in shares of ResMed in the 1st quarter valued at $201,000. Parcion Private Wealth LLC lifted its stake in shares of ResMed by 3.2% in the 1st quarter. Parcion Private Wealth LLC now owns 33,259 shares of the medical equipment provider's stock valued at $7,445,000 after acquiring an additional 1,044 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of ResMed by 926.7% in the 1st quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider's stock valued at $69,000 after acquiring an additional 278 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in shares of ResMed by 16.6% in the 1st quarter. Wealthfront Advisers LLC now owns 9,380 shares of the medical equipment provider's stock valued at $2,100,000 after acquiring an additional 1,338 shares during the last quarter. Finally, Dakota Wealth Management lifted its stake in shares of ResMed by 21.7% in the 1st quarter. Dakota Wealth Management now owns 15,189 shares of the medical equipment provider's stock valued at $3,400,000 after acquiring an additional 2,709 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the firm'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 transaction, the chief executive officer owned 455,503 shares of the company's stock, valued at approximately $116,936,730.16. This trade 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 the SEC website. Also, Director Witte Jan De sold 2,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the transaction, the director directly owned 5,806 shares in the company, valued at approximately $1,413,586.82. The trade was a 25.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,013 shares of company stock valued at $7,238,913. 0.71% of the stock is owned by corporate insiders.

ResMed Trading Up 0.4%

ResMed stock traded up $1.06 during trading hours on Friday, reaching $257.48. 319,860 shares of the company's stock were exchanged, compared to its average volume of 966,063. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The firm's 50 day simple moving average is $251.28 and its 200 day simple moving average is $237.32. ResMed Inc. has a twelve month low of $196.43 and a twelve month high of $263.05. The firm has a market capitalization of $37.75 billion, a PE ratio of 28.91, a PEG ratio of 1.59 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The company had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $2.13 EPS. The business's revenue was up 7.9% on a year-over-year basis. Research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were given a $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.82%. ResMed's payout ratio is 23.79%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RMD. JPMorgan Chase & Co. increased their price target on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. KeyCorp set a $274.00 price objective on ResMed in a report on Thursday, April 24th. Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Morgan Stanley set a $286.00 price objective on ResMed and gave the company an "overweight" rating in a report on Tuesday, May 20th. Finally, UBS Group decreased their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and an average price target of $263.00.

ResMed Company 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.