Simon Quick Advisors LLC Has $377,000 Stock Holdings in ResMed Inc. (NYSE:RMD)

Simon Quick Advisors LLC raised its holdings in ResMed Inc. (NYSE:RMD) by 9.0% in the 4th quarter, HoldingsChannel reports. The fund owned 1,649 shares of the medical equipment provider’s stock after acquiring an additional 136 shares during the period. Simon Quick Advisors LLC’s holdings in ResMed were worth $377,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Atomi Financial Group Inc. acquired a new stake in ResMed in the fourth quarter valued at $246,000. Perpetual Ltd bought a new stake in shares of ResMed in the 4th quarter valued at about $630,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of ResMed by 1.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 66,597 shares of the medical equipment provider’s stock valued at $15,230,000 after buying an additional 1,027 shares during the period. LVW Advisors LLC lifted its stake in shares of ResMed by 23.4% in the fourth quarter. LVW Advisors LLC now owns 3,098 shares of the medical equipment provider’s stock worth $708,000 after acquiring an additional 587 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its stake in shares of ResMed by 25.2% in the fourth quarter. Aaron Wealth Advisors LLC now owns 1,607 shares of the medical equipment provider’s stock worth $368,000 after acquiring an additional 323 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $248.90 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $238.59 and a two-hundred day simple moving average of $233.90. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $260.49. The firm has a market capitalization of $36.54 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 1.79 and a beta of 0.70.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts forecast that ResMed Inc. will post 9.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Robert W. Baird lifted their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Bank of America boosted 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. Finally, Piper Sandler began coverage on ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $233.09.

Insider Buying and Selling at ResMed

In other ResMed news, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,099 shares of company stock worth $2,719,385. Insiders own 0.71% of the company’s stock.

About ResMed

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.