ResMed Inc. (NYSE:RMD) Stock Position Increased by Versant Capital Management Inc

Versant Capital Management Inc raised its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 265.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,676 shares of the medical equipment provider's stock after purchasing an additional 1,217 shares during the quarter. Versant Capital Management Inc's holdings in ResMed were worth $375,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Colonial Trust Co SC grew its position in shares of ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. acquired a new position in shares of ResMed in the 4th quarter worth approximately $33,000. Itau Unibanco Holding S.A. grew its position in shares of ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after acquiring an additional 150 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of ResMed in the 4th quarter worth approximately $39,000. Finally, Coppell Advisory Solutions LLC grew its position in shares of ResMed by 1,750.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock worth $42,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Buying and Selling at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the sale, the insider now owns 9,725 shares of the company's stock, valued at $2,289,265. The trade was a 48.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $229.20, for a total value of $1,835,662.80. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $104,394,182.40. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,949 shares of company stock valued at $11,822,260 in the last quarter. Corporate insiders own 0.71% of the company's stock.

ResMed Stock Performance

ResMed stock traded down $0.50 during mid-day trading on Friday, hitting $244.62. 1,060,298 shares of the company's stock traded hands, compared to its average volume of 1,016,952. The firm has a 50 day moving average price of $230.20 and a 200 day moving average price of $234.20. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market cap of $35.87 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. ResMed Inc. has a one year low of $179.42 and a one year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 EPS. On average, equities analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's payout ratio is currently 23.79%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group decreased their target price on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus decreased their target price on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. Royal Bank of Canada lifted their target price on ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, Morgan Stanley set a $286.00 price target on ResMed and gave the stock an "overweight" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and an average 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.