Claro Advisors LLC Makes New $791,000 Investment in ResMed Inc. (NYSE:RMD)

Claro Advisors LLC purchased a new stake in shares of ResMed Inc. (NYSE:RMD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,994 shares of the medical equipment provider’s stock, valued at approximately $791,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of ResMed by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock worth $3,052,229,000 after purchasing an additional 173,635 shares during the last quarter. Morgan Stanley boosted its holdings in shares of ResMed by 102.4% during the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock valued at $344,481,000 after acquiring an additional 1,178,547 shares during the last quarter. Norges Bank bought a new stake in shares of ResMed in the fourth quarter worth approximately $233,966,000. Charles Schwab Investment Management Inc. raised its holdings in shares of ResMed by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 863,289 shares of the medical equipment provider’s stock valued at $148,503,000 after purchasing an additional 46,113 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in ResMed by 15.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock valued at $120,225,000 after purchasing an additional 95,689 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. KeyCorp raised their target price on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Royal Bank of Canada upped their price target on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Mizuho reissued a “buy” rating and issued a $215.00 price objective on shares of ResMed in a report on Wednesday, March 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $236.00 target price on shares of ResMed in a report on Monday, June 24th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed Price Performance

Shares of ResMed stock opened at $186.93 on Tuesday. The company has a market capitalization of $27.46 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 1.88 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 simple moving average is $208.47 and its 200-day simple moving average is $191.40. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $229.97.

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

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were issued a $0.48 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a yield of 1.03%. ResMed’s dividend payout ratio is currently 29.49%.

Insider Buying and Selling at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $209.81, for a total value of $209,810.00. Following the sale, the chief financial officer now directly owns 91,056 shares of the company’s stock, valued at $19,104,459.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $211.66, for a total transaction of $3,107,803.78. Following the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $93,299,516.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction dated 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 owns 91,056 shares of the company’s stock, valued at approximately $19,104,459.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,151 shares of company stock worth $6,666,409. 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.