Tandem Investment Advisors Inc. increased its stake in ResMed Inc. (NYSE:RMD) by 16.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,783 shares of the medical equipment provider’s stock after acquiring an additional 12,133 shares during the period. ResMed makes up approximately 2.0% of Tandem Investment Advisors Inc.’s investment portfolio, making the stock its 28th biggest position. Tandem Investment Advisors Inc. owned approximately 0.06% of ResMed worth $9,023,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in ResMed by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 6,239 shares of the medical equipment provider’s stock worth $710,000 after buying an additional 110 shares in the last quarter. ETF Managers Group LLC boosted its holdings in ResMed by 15.7% during the fourth quarter. ETF Managers Group LLC now owns 1,323 shares of the medical equipment provider’s stock worth $151,000 after buying an additional 180 shares in the last quarter. Advisor Partners LLC boosted its holdings in ResMed by 7.3% during the fourth quarter. Advisor Partners LLC now owns 2,793 shares of the medical equipment provider’s stock worth $318,000 after buying an additional 189 shares in the last quarter. Parallel Advisors LLC boosted its holdings in ResMed by 143.0% during the fourth quarter. Parallel Advisors LLC now owns 328 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 193 shares in the last quarter. Finally, MML Investors Services LLC boosted its holdings in ResMed by 4.3% during the fourth quarter. MML Investors Services LLC now owns 4,899 shares of the medical equipment provider’s stock worth $558,000 after buying an additional 204 shares in the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.
In related news, CEO Michael J. Farrell sold 6,651 shares of ResMed stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $100.82, for a total transaction of $670,553.82. Following the completion of the transaction, the chief executive officer now directly owns 292,933 shares of the company’s stock, valued at approximately $29,533,505.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Andrew Douglas sold 4,188 shares of ResMed stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $114.18, for a total transaction of $478,185.84. Following the transaction, the insider now directly owns 41,728 shares of the company’s stock, valued at $4,764,503.04. The disclosure for this sale can be found here. Insiders sold a total of 78,662 shares of company stock worth $7,992,069 over the last quarter. 1.24% of the stock is currently owned by company insiders.
A number of brokerages recently weighed in on RMD. Deutsche Bank upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Zacks Investment Research downgraded shares of ResMed from a “hold” rating to a “sell” rating in a research report on Friday, March 29th. JPMorgan Chase & Co. downgraded shares of ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 price target for the company. in a research report on Friday, January 25th. ValuEngine downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, Goldman Sachs Group downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, January 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. ResMed has an average rating of “Hold” and an average target price of $111.87.
Shares of NYSE:RMD traded up $0.24 during mid-day trading on Monday, hitting $102.52. The stock had a trading volume of 4,449 shares, compared to its average volume of 954,663. ResMed Inc. has a 12-month low of $90.64 and a 12-month high of $118.50. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.76 and a current ratio of 2.44. The company has a market cap of $14.73 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 2.68 and a beta of 0.58.
ResMed (NYSE:RMD) last released its earnings results on Thursday, January 24th. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The company had revenue of $651.10 million during the quarter, compared to the consensus estimate of $676.77 million. ResMed had a net margin of 18.34% and a return on equity of 26.53%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 EPS. On average, equities analysts predict that ResMed Inc. will post 3.55 earnings per share for the current year.
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ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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