Hendershot Investments Inc. Acquires Shares of 44,068 ResMed Inc. (NYSE:RMD)

Hendershot Investments Inc. acquired a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 44,068 shares of the medical equipment provider's stock, valued at approximately $7,581,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RMD. Cambridge Investment Research Advisors Inc. grew its holdings in ResMed by 15.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,050 shares of the medical equipment provider's stock valued at $740,000 after buying an additional 414 shares in the last quarter. Cibc World Market Inc. grew its holdings in shares of ResMed by 13.0% during the 1st quarter. Cibc World Market Inc. now owns 1,000 shares of the medical equipment provider's stock worth $243,000 after purchasing an additional 115 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of ResMed by 14.5% during the 1st quarter. Vontobel Holding Ltd. now owns 8,112 shares of the medical equipment provider's stock worth $2,020,000 after purchasing an additional 1,025 shares in the last quarter. Sei Investments Co. grew its holdings in shares of ResMed by 7.8% during the 1st quarter. Sei Investments Co. now owns 40,740 shares of the medical equipment provider's stock worth $9,781,000 after purchasing an additional 2,955 shares in the last quarter. Finally, Prudential PLC acquired a new stake in shares of ResMed during the 1st quarter worth $694,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Down 0.2 %

ResMed stock traded down $0.44 during trading hours on Wednesday, hitting $193.83. The stock had a trading volume of 915,275 shares, compared to its average volume of 991,863. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. The stock has a market cap of $28.51 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 2.32 and a beta of 0.67. ResMed Inc. has a one year low of $132.24 and a one year high of $243.52. The business's 50 day simple moving average is $187.02 and its 200-day simple moving average is $168.66.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company earned $1.66 earnings per share. The firm's revenue was up 12.5% compared to the same quarter last year. On average, equities analysts predict that ResMed Inc. will post 7.45 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.99%. ResMed's dividend payout ratio (DPR) is 31.74%.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 10,935 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares of the company's stock, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company's stock, valued at $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares of the company's stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock worth $2,046,617 over the last ninety days. 1.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RMD has been the topic of several analyst reports. Royal Bank of Canada increased their target price on ResMed from $181.00 to $182.00 and gave the stock a "sector perform" rating in a report on Thursday, January 25th. Oppenheimer raised their price objective on ResMed from $185.00 to $205.00 and gave the company an "outperform" rating in a research note on Tuesday, January 30th. Needham & Company LLC raised their price objective on ResMed from $215.00 to $224.00 and gave the company a "buy" rating in a research note on Monday, April 1st. KeyCorp initiated coverage on ResMed in a research note on Tuesday, February 6th. They issued an "overweight" rating and a $227.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on ResMed from $160.00 to $195.00 and gave the company an "overweight" rating in a research note on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.20.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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