WealthTrust Asset Management LLC Takes $799,000 Position in ResMed Inc. (NYSE:RMD)

WealthTrust Asset Management LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,568 shares of the medical equipment provider's stock, valued at approximately $799,000.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC increased its stake in ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 127 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in ResMed by 393.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,529 shares of the medical equipment provider's stock valued at $566,000 after purchasing an additional 2,016 shares in the last quarter. Atria Investments Inc increased its stake in ResMed by 21.5% during the 4th quarter. Atria Investments Inc now owns 2,106 shares of the medical equipment provider's stock valued at $482,000 after purchasing an additional 372 shares in the last quarter. EntryPoint Capital LLC acquired a new position in ResMed during the 4th quarter valued at approximately $347,000. Finally, MML Investors Services LLC increased its stake in ResMed by 31.9% during the 4th quarter. MML Investors Services LLC now owns 11,468 shares of the medical equipment provider's stock valued at $2,623,000 after purchasing an additional 2,771 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Buying and Selling

In other news, Director Witte Jan De sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director owned 5,806 shares of the company's stock, valued at approximately $1,413,586.82. This trade represents a 25.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's 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 completion of the transaction, the chief executive officer directly owned 455,503 shares of the company's stock, valued at approximately $116,936,730.16. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,013 shares of company stock worth $7,238,913. Insiders own 0.71% of the company's stock.

ResMed Price Performance

RMD traded down $2.13 during midday trading on Tuesday, hitting $251.98. 1,019,803 shares of the company traded hands, compared to its average volume of 969,524. 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 company has a market capitalization of $36.95 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.59 and a beta of 0.77. ResMed Inc. has a 52-week low of $196.43 and a 52-week high of $263.05. The business has a 50 day simple moving average of $250.63 and a two-hundred day simple moving average of $236.92.

ResMed (NYSE:RMD - Get Free Report) last posted 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 the consensus estimate of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The company's revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $2.13 earnings per share. On average, equities analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.84%. The ex-dividend date was Thursday, May 8th. ResMed's payout ratio is currently 23.79%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RMD shares. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Royal Bank Of Canada raised shares of ResMed from a "sector perform" rating to an "outperform" rating and set a $294.00 price objective on the stock in a report on Tuesday. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the company an "overweight" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Mizuho set a $265.00 price objective on shares of ResMed in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $262.58.

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.