ResMed Inc. (NYSE:RMD) Shares Bought by Cerity Partners LLC

Cerity Partners LLC grew its position in ResMed Inc. (NYSE:RMD) by 26.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,004 shares of the medical equipment provider’s stock after purchasing an additional 419 shares during the quarter. Cerity Partners LLC’s holdings in ResMed were worth $345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RMD. Hendershot Investments Inc. purchased a new position in shares of ResMed in the 4th quarter valued at $7,581,000. Executive Wealth Management LLC grew its position in shares of ResMed by 8.7% in the 4th quarter. Executive Wealth Management LLC now owns 10,972 shares of the medical equipment provider’s stock valued at $1,888,000 after buying an additional 880 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of ResMed in the 4th quarter valued at $423,000. Tobam grew its position in shares of ResMed by 93.1% in the 4th quarter. Tobam now owns 815 shares of the medical equipment provider’s stock valued at $140,000 after buying an additional 393 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of ResMed in the 4th quarter valued at $45,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RMD has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their target price on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Needham & Company LLC raised their price objective on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer lowered their price objective on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, KeyCorp raised their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus price target of $202.80.

Insiders Place Their Bets

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 10,935 shares of ResMed 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 of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,216 shares of company stock worth $2,046,617. Insiders own 1.21% of the company’s stock.

ResMed Stock Performance

Shares of RMD opened at $218.06 on Friday. 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 stock has a market cap of $32.07 billion, a P/E ratio of 36.04, a PEG ratio of 2.25 and a beta of 0.67. The company has a 50-day moving average of $187.07 and a two-hundred day moving average of $171.97. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $243.52.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.68 earnings per share. As a group, research analysts predict that ResMed Inc. will post 7.47 EPS for the current fiscal year.

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.