Norden Group LLC Buys 1,190 Shares of ResMed Inc. (NYSE:RMD)

Norden Group LLC increased its position in shares of ResMed Inc. (NYSE:RMDFree Report) by 85.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,590 shares of the medical equipment provider’s stock after acquiring an additional 1,190 shares during the quarter. Norden Group LLC’s holdings in ResMed were worth $513,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC bought a new position in shares of ResMed during the fourth quarter worth $27,000. Hall Laurie J Trustee acquired a new position in ResMed in the first quarter valued at about $32,000. Planned Solutions Inc. bought a new stake in shares of ResMed in the fourth quarter worth about $34,000. Riverview Trust Co bought a new position in shares of ResMed during the 1st quarter valued at about $42,000. Finally, MV Capital Management Inc. lifted its holdings in shares of ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Up 1.1 %

NYSE:RMD opened at $192.36 on Thursday. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $229.97. The firm has a market capitalization of $28.26 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 1.68 and a beta of 0.66. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $207.06 and its two-hundred day moving average price is $192.30.

ResMed (NYSE:RMDGet Free Report) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the company earned $1.68 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts expect that ResMed Inc. will post 7.7 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the transaction, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at approximately $95,422,808. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ResMed news, Director Karen Drexler sold 425 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the sale, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the completion of the transaction, the chief executive officer now directly owns 440,752 shares in the company, valued at approximately $95,422,808. The disclosure for this sale can be found here. Insiders have sold 46,834 shares of company stock worth $9,694,137 over the last 90 days. Company insiders own 1.21% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on RMD. Mizuho reissued a “buy” rating and set a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Needham & Company LLC restated a “buy” rating and issued a $236.00 price target on shares of ResMed in a report on Monday, June 24th. Finally, KeyCorp increased their price objective on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $202.80.

Get Our Latest Stock Report on RMD

ResMed Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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