Stock Yards Bank & Trust Co. Makes New $206,000 Investment in ResMed Inc. (NYSE:RMD)

Stock Yards Bank & Trust Co. purchased a new position in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, HoldingsChannel reports. The fund purchased 1,200 shares of the medical equipment provider’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MV Capital Management Inc. lifted its holdings in shares of ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 60 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of ResMed by 2.6% in the 3rd quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock valued at $391,000 after buying an additional 68 shares during the period. Harfst & Associates Inc. lifted its holdings in shares of ResMed by 0.7% in the 3rd quarter. Harfst & Associates Inc. now owns 10,995 shares of the medical equipment provider’s stock valued at $1,626,000 after buying an additional 73 shares during the period. Czech National Bank lifted its holdings in shares of ResMed by 0.3% in the 4th quarter. Czech National Bank now owns 25,762 shares of the medical equipment provider’s stock valued at $4,432,000 after buying an additional 81 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of ResMed by 12.9% in the 3rd quarter. Global Retirement Partners LLC now owns 840 shares of the medical equipment provider’s stock valued at $124,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $183.74 on Thursday. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $243.52. The stock has a 50 day moving average of $186.30 and a two-hundred day moving average of $171.39. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The firm has a market cap of $27.03 billion, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.15 billion. During the same period in the previous year, the business earned $1.66 EPS. ResMed’s quarterly revenue was up 12.5% on a year-over-year basis. On average, analysts expect that ResMed Inc. will post 7.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RMD. JPMorgan Chase & Co. boosted their price objective on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Mizuho restated a “buy” rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Royal Bank of Canada lifted their price target on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. Needham & Company LLC lifted their price target on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, UBS Group lifted their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $199.20.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 10,935 shares of the company’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 value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Peter C. Farrell sold 10,935 shares of the company’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 value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were 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 disclosure for this sale can be found here. In the last three months, insiders sold 11,216 shares of company stock worth $2,046,617. Corporate insiders own 1.21% of the company’s stock.

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.