Trivant Custom Portfolio Group LLC Takes $1.05 Million Position in ResMed Inc. (NYSE:RMD)

Trivant Custom Portfolio Group LLC bought a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,688 shares of the medical equipment provider's stock, valued at approximately $1,049,000.

A number of other institutional investors have also bought and sold shares of RMD. Howard Capital Management Inc. grew its stake in shares of ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after acquiring an additional 45 shares in the last quarter. CVA Family Office LLC lifted its position in shares of ResMed by 29.8% during the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock valued at $47,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in shares of ResMed by 9.7% during the first quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock valued at $126,000 after purchasing an additional 50 shares in the last quarter. Faithward Advisors LLC boosted its holdings in ResMed by 4.3% during the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock worth $292,000 after purchasing an additional 53 shares during the last quarter. Finally, Portside Wealth Group LLC grew its position in ResMed by 3.8% in the 1st quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider's stock worth $326,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 54.98% of the company's stock.

ResMed Stock Performance

NYSE RMD traded up $0.78 during trading on Thursday, hitting $250.87. 635,899 shares of the company's stock traded hands, compared to its average volume of 1,006,240. 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 $36.79 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 1.72 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 business has a 50 day moving average of $239.10 and a 200-day moving average of $234.87.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $1.29 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $2.13 earnings per share. As a group, equities research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. ResMed's payout ratio is 23.79%.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $251.21, for a total transaction of $2,011,940.89. Following the sale, the chief executive officer now directly owns 455,503 shares in the company, valued at approximately $114,426,908.63. The trade was a 1.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total value of $484,500.00. Following the completion of the transaction, the director now owns 71,218 shares of the company's stock, valued at approximately $17,252,560.50. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,132 shares of company stock worth $7,075,837 over the last 90 days. Corporate insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RMD shares. Mizuho set a $265.00 target price on shares of ResMed in a research report on Wednesday, April 16th. KeyCorp set a $274.00 price target on ResMed in a research report on Thursday, April 24th. UBS Group dropped their price target on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. 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. Finally, Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, ResMed has an average rating of "Moderate Buy" and a consensus price target of $259.33.

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.