ResMed Inc. (NYSE:RMD) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC grew its stake in ResMed Inc. (NYSE:RMD) by 19.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,545 shares of the medical equipment provider’s stock after buying an additional 248 shares during the period. Ballentine Partners LLC’s holdings in ResMed were worth $306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RMD. Atlantic Edge Private Wealth Management LLC purchased a new position in ResMed in the 4th quarter worth $27,000. Planned Solutions Inc. acquired a new stake in shares of ResMed during the fourth quarter worth about $34,000. MV Capital Management Inc. boosted its position in ResMed by 39.0% in the fourth 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 last quarter. Operose Advisors LLC acquired a new position in ResMed in the 3rd quarter worth approximately $32,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in ResMed during the 4th quarter worth approximately $45,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In related news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $209.81, for a total value of $209,810.00. Following the completion of the transaction, the chief financial officer now directly owns 91,056 shares of the company’s stock, valued at approximately $19,104,459.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Witte Jan De sold 360 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the sale, the director now owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $209.81, for a total transaction of $209,810.00. Following the completion of the transaction, the chief financial officer now directly owns 91,056 shares in the company, valued at $19,104,459.36. The disclosure for this sale can be found here. Insiders have sold 31,151 shares of company stock valued at $6,666,409 over the last ninety days. Insiders own 1.21% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $183.82 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The firm has a fifty day moving average of $207.68 and a 200 day moving average of $190.93. The firm has a market cap of $27.00 billion, a PE ratio of 28.24, a PEG ratio of 1.79 and a beta of 0.68. ResMed Inc. has a one year low of $132.24 and a one year high of $229.97.

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

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were given a $0.48 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 1.04%. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Analyst Ratings Changes

RMD has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $236.00 price objective on shares of ResMed in a report on Monday. KeyCorp increased their price target on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Mizuho reiterated a “buy” rating and set a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Royal Bank of Canada upped their target price on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Finally, Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a research report on Monday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $202.80.

ResMed 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.