Greenleaf Trust Boosts Holdings in ResMed Inc. (NYSE:RMD)

Greenleaf Trust grew its position in shares of ResMed Inc. (NYSE:RMD) by 69.8% during the fourth quarter, HoldingsChannel reports. The firm owned 2,976 shares of the medical equipment provider’s stock after buying an additional 1,223 shares during the period. Greenleaf Trust’s holdings in ResMed were worth $512,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. MV Capital Management Inc. increased its stake in ResMed by 39.0% during the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares during the last quarter. Great Lakes Advisors LLC boosted its holdings in shares of ResMed by 2.6% during the third quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock valued at $391,000 after acquiring an additional 68 shares during the period. Harfst & Associates Inc. boosted its holdings in shares of ResMed by 0.7% during the third quarter. Harfst & Associates Inc. now owns 10,995 shares of the medical equipment provider’s stock valued at $1,626,000 after acquiring an additional 73 shares during the period. Czech National Bank boosted its holdings in shares of ResMed by 0.3% during the fourth quarter. Czech National Bank now owns 25,762 shares of the medical equipment provider’s stock valued at $4,432,000 after acquiring an additional 81 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in shares of ResMed by 12.9% during the third quarter. Global Retirement Partners LLC now owns 840 shares of the medical equipment provider’s stock valued at $124,000 after acquiring an additional 96 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RMD. KeyCorp began coverage on shares of ResMed in a report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price target for the company. Needham & Company LLC boosted their price target on shares of ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a report on Monday, April 1st. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Oppenheimer upped their price objective on shares of ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Finally, Mizuho reaffirmed a “buy” rating and issued a $215.00 price objective on shares of ResMed in a report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $199.20.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The transaction was disclosed in a filing with the SEC, which is available through this link. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,216 shares of company stock worth $2,046,617. Company insiders own 1.21% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $180.35 on Tuesday. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $243.52. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $26.53 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 2.19 and a beta of 0.67. The firm has a 50-day moving average of $186.14 and a two-hundred day moving average of $171.04.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the company earned $1.66 EPS. ResMed’s revenue was up 12.5% on a year-over-year basis. As a group, analysts expect that ResMed Inc. will post 7.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Wednesday, February 7th. ResMed’s payout ratio is 31.74%.

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.