Pittenger & Anderson Inc. Purchases 2,964 Shares of ResMed Inc. $RMD

Pittenger & Anderson Inc. grew its position in ResMed Inc. (NYSE:RMD) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,337 shares of the medical equipment provider’s stock after acquiring an additional 2,964 shares during the period. Pittenger & Anderson Inc. owned about 0.07% of ResMed worth $23,871,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of ResMed in the 4th quarter valued at about $25,000. ORG Partners LLC grew its holdings in ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares during the period. Imprint Wealth LLC acquired a new position in ResMed during the third quarter worth approximately $26,000. WFA of San Diego LLC acquired a new position in ResMed during the second quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. bought a new stake in ResMed in the third quarter valued at approximately $31,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total value of $1,090,783.05. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $101,893,036.65. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,973 shares of company stock valued at $3,096,067 in the last 90 days. Corporate insiders own 0.65% of the company’s stock.

ResMed News Summary

Here are the key news stories impacting ResMed this week:

• Positive Sentiment: ResMed’s sale of MatrixCare should simplify the portfolio, increase focus on higher-growth core franchises, and potentially improve capital allocation. Resmed Divests MatrixCare Business to Sharpen Focus on Connected Care
• Positive Sentiment: Analyst commentary has described the transaction as a “portfolio reset,” which suggests the market may view the move as strategically constructive for long-term growth. ResMed (RMD) Sells MatrixCare To Refocus On Sleep And Respiratory Health
• Positive Sentiment: Brokerage coverage remained supportive, with multiple firms reiterating buy-type ratings, reinforcing confidence in ResMed’s core business despite the divestiture. Resmed Inc CHESS Depositary Interests … Gets a Buy from Morgans
• Neutral Sentiment: Unusually large put-option activity suggests some traders are hedging or betting on downside, but it does not confirm a change in the company’s fundamentals.
• Neutral Sentiment: CEO Michael Farrell’s recent stock sale was made under a pre-arranged 10b5-1 plan, making it more routine than a clear bearish signal, though insider selling can still weigh on sentiment. Insider Selling: ResMed (NYSE:RMD) CEO Sells $1,090,783.05 in Stock

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RMD shares. JPMorgan Chase & Co. started coverage on ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating for the company. Robert W. Baird set a $225.00 price target on ResMed in a report on Friday, May 1st. Evercore set a $255.00 price objective on shares of ResMed and gave the stock an “outperform” rating in a research report on Monday, April 13th. Jefferies Financial Group decreased their price objective on shares of ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a report on Friday. Finally, Royal Bank Of Canada dropped their price objective on shares of ResMed from $321.00 to $276.00 and set an “outperform” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $263.08.

ResMed Stock Performance

Shares of NYSE RMD traded down $4.28 during trading hours on Friday, reaching $204.17. 1,331,127 shares of the stock were exchanged, compared to its average volume of 1,566,866. The firm has a market capitalization of $29.62 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 1.22 and a beta of 0.78. The stock’s fifty day simple moving average is $200.46 and its 200 day simple moving average is $228.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the company posted $2.37 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts predict that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 14th. ResMed’s payout ratio is presently 23.14%.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.