Park Avenue Securities LLC Has $449,000 Position in ResMed Inc. (NYSE:RMD)

Park Avenue Securities LLC boosted its holdings in ResMed Inc. (NYSE:RMD) by 20.3% during the first quarter, Holdings Channel reports. The fund owned 2,266 shares of the medical equipment provider’s stock after purchasing an additional 382 shares during the period. Park Avenue Securities LLC’s holdings in ResMed were worth $449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in RMD. Handelsbanken Fonder AB lifted its stake in shares of ResMed by 22.5% during the 4th quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after buying an additional 12,899 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of ResMed by 13.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock worth $7,781,000 after acquiring an additional 5,517 shares during the period. Vaughan David Investments LLC IL acquired a new position in shares of ResMed in the fourth quarter valued at approximately $29,322,000. Dimensional Fund Advisors LP increased its stake in shares of ResMed by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider’s stock worth $92,285,000 after purchasing an additional 40,605 shares during the period. Finally, ICW Investment Advisors LLC lifted its holdings in ResMed by 2.3% during the 4th quarter. ICW Investment Advisors LLC now owns 11,303 shares of the medical equipment provider’s stock worth $1,944,000 after purchasing an additional 249 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other news, Director Karen Drexler sold 425 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares in the company, valued at approximately $1,815,214.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Witte Jan De sold 360 shares of ResMed stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the transaction, the director now owns 7,519 shares in the company, valued at $1,641,322.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Karen Drexler sold 425 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the sale, the director now owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The disclosure for this sale can be found here. Insiders have sold 31,151 shares of company stock worth $6,666,409 over the last quarter. Corporate insiders own 1.21% of the company’s stock.

ResMed Trading Down 0.1 %

Shares of RMD stock opened at $191.42 on Friday. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $229.97. The stock’s fifty day moving average price is $208.47 and its two-hundred day moving average price is $191.26. 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 company has a market cap of $28.12 billion, a PE ratio of 29.40, a P/E/G ratio of 1.88 and a beta of 0.68.

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

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 9th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.00%. The ex-dividend date was Wednesday, May 8th. ResMed’s payout ratio is 29.49%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RMD. Mizuho reiterated a “buy” rating and set a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. KeyCorp lifted their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Finally, Royal Bank of Canada increased their price target on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.80.

About ResMed

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.