1,138 Shares in ResMed Inc. (NYSE:RMD) Acquired by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC bought a new position 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 bought 1,138 shares of the medical equipment provider’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RMD. Vanguard Group Inc. grew its stake in ResMed by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock worth $3,052,229,000 after acquiring an additional 173,635 shares during the period. Morgan Stanley increased its holdings in shares of ResMed by 102.4% in 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 during the 4th quarter valued at about $233,966,000. Charles Schwab Investment Management Inc. raised its position in shares of ResMed by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 863,289 shares of the medical equipment provider’s stock worth $148,503,000 after purchasing an additional 46,113 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in ResMed by 15.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock valued at $120,225,000 after buying an additional 95,689 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the completion of the transaction, the chief executive officer now directly owns 440,752 shares in the company, valued at approximately $95,422,808. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the completion of the sale, the chief executive officer now owns 440,752 shares of the company’s stock, valued at approximately $95,422,808. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the company’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 owns 91,056 shares of the company’s stock, valued at $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 valued at $6,666,409. 1.21% of the stock is currently owned by company insiders.

ResMed Stock Performance

Shares of ResMed stock traded up $2.43 during trading hours on Thursday, hitting $188.96. 534,633 shares of the company’s stock traded hands, compared to its average volume of 1,057,134. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The stock has a market capitalization of $27.76 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 1.80 and a beta of 0.68. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $229.97. The company has a fifty day simple moving average of $207.68 and a 200-day simple moving average of $190.93.

ResMed (NYSE:RMD) last posted its quarterly earnings data 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. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business earned $1.68 earnings per share. ResMed’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that ResMed Inc. will post 7.7 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 1.02%. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RMD shares. Mizuho restated a “buy” rating and issued a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. KeyCorp increased their price target on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Royal Bank of Canada raised their target price on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $236.00 price objective on shares of ResMed in a report on Monday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus target price 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.