Simon Quick Advisors LLC Increases Position in ResMed Inc. (NYSE:RMD)

Simon Quick Advisors LLC increased its stake in ResMed Inc. (NYSE:RMD) by 18.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,951 shares of the medical equipment provider’s stock after acquiring an additional 302 shares during the period. Simon Quick Advisors LLC’s holdings in ResMed were worth $437,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RMD. Colonial Trust Co SC boosted its position in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 125 shares during the period. Optiver Holding B.V. purchased a new stake in shares of ResMed during the fourth quarter worth about $33,000. Itau Unibanco Holding S.A. boosted its holdings in shares of ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 150 shares during the period. OFI Invest Asset Management purchased a new stake in shares of ResMed during the fourth quarter worth about $39,000. Finally, Coppell Advisory Solutions LLC boosted its holdings in shares of ResMed by 1,750.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 175 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total transaction of $484,500.00. Following the completion of the sale, the director now owns 71,218 shares of the company’s stock, valued at $17,252,560.50. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $95,580,799.20. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,132 shares of company stock valued at $7,075,837 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

RMD stock opened at $249.16 on Friday. The firm has a 50 day moving average price of $236.81 and a 200-day moving average price of $234.84. ResMed Inc. has a 52-week low of $179.42 and a 52-week high of $263.05. The firm has a market capitalization of $36.53 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 1.53 and a beta of 0.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last released its earnings results 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 firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $2.13 earnings per share. Equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared 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 dividend yield of 0.85%. The ex-dividend date was Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is currently 23.79%.

Analyst Ratings Changes

RMD has been the subject of a number of analyst reports. Stifel Nicolaus dropped their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Morgan Stanley set a $286.00 target price on shares of ResMed and gave the stock an “overweight” rating in a report on Tuesday, May 20th. Piper Sandler dropped their target price on shares of ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. increased their target price on shares of ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, Mizuho set a $265.00 price target on shares of ResMed in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $259.33.

ResMed 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.