Running Oak Capital LLC Takes $15.19 Million Position in ResMed Inc. (NYSE:RMD)

Running Oak Capital LLC purchased a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 67,844 shares of the medical equipment provider's stock, valued at approximately $15,187,000.

A number of other hedge funds also recently bought and sold shares of the business. Canton Hathaway LLC purchased a new position in ResMed during the 1st quarter valued at about $716,000. Praxis Investment Management Inc. increased its holdings in ResMed by 25.1% during the 1st quarter. Praxis Investment Management Inc. now owns 2,090 shares of the medical equipment provider's stock valued at $468,000 after purchasing an additional 420 shares during the period. Blue Trust Inc. increased its holdings in ResMed by 52.9% during the 1st quarter. Blue Trust Inc. now owns 691 shares of the medical equipment provider's stock valued at $155,000 after purchasing an additional 239 shares during the period. Trivant Custom Portfolio Group LLC purchased a new position in shares of ResMed during the 1st quarter worth approximately $1,049,000. Finally, Duncan Williams Asset Management LLC grew its holdings in shares of ResMed by 13.9% during the 1st quarter. Duncan Williams Asset Management LLC now owns 3,869 shares of the medical equipment provider's stock worth $866,000 after acquiring an additional 471 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on RMD shares. Stifel Nicolaus reduced their target price on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. upped their target price on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Morgan Stanley set a $286.00 target price on ResMed and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. Finally, Mizuho set a $265.00 target price on ResMed in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $259.33.

ResMed Stock Up 1.1%

RMD stock traded up $2.77 during midday trading on Friday, hitting $253.65. The company's stock had a trading volume of 964,317 shares, compared to its average volume of 998,267. The company has a market cap of $37.19 billion, a PE ratio of 28.47, a P/E/G ratio of 1.75 and a beta of 0.78. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12. The firm's 50-day moving average is $240.71 and its 200-day moving average is $234.85.

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, beating the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The firm's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.13 EPS. On average, equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed 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 of this dividend was Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.84%. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $219.74, for a total value of $439,480.00. Following the transaction, the director now directly owns 73,218 shares of the company's stock, valued at approximately $16,088,923.32. This represents a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $95,580,799.20. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,132 shares of company stock valued at $7,075,837. 0.71% of the stock is owned by corporate insiders.

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.