2,754 Shares in ResMed Inc. (NYSE:RMD) Acquired by Perpetual Ltd

Perpetual Ltd bought a new stake in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,754 shares of the medical equipment provider’s stock, valued at approximately $630,000.

Several other institutional investors have also recently made changes to their positions in the stock. True Wealth Design LLC raised its stake in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of ResMed during the third quarter valued at about $34,000. Rosenberg Matthew Hamilton purchased a new stake in shares of ResMed in the fourth quarter worth about $54,000. Capital Performance Advisors LLP bought a new position in shares of ResMed in the third quarter valued at approximately $60,000. Finally, Quarry LP grew its stake in ResMed by 271.9% during the second quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RMD shares. Robert W. Baird increased their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Bank of America lifted their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Piper Sandler started coverage on ResMed in a research note on Friday, January 10th. They issued a “neutral” rating and a $252.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Finally, Royal Bank of Canada boosted their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $233.09.

ResMed Stock Down 0.2 %

Shares of NYSE RMD opened at $247.36 on Thursday. The stock has a market capitalization of $36.31 billion, a P/E ratio of 32.76, a PEG ratio of 1.73 and a beta of 0.70. ResMed Inc. has a one year low of $170.56 and a one year high of $260.49. The firm’s 50 day simple moving average is $238.35 and its two-hundred day simple moving average is $233.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 EPS. As a group, analysts expect that ResMed Inc. will post 9.34 EPS for the current fiscal year.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total transaction of $497,480.00. Following the completion of the sale, the director now owns 83,204 shares of the company’s stock, valued at approximately $20,696,162.96. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Witte Jan De sold 796 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,099 shares of company stock valued at $2,719,385. 0.71% of the stock is currently owned by insiders.

ResMed Company 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.