ResMed Inc. $RMD Shares Bought by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 43.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,830 shares of the medical equipment provider’s stock after purchasing an additional 28,559 shares during the quarter. ResMed makes up about 0.9% of Pittenger & Anderson Inc.’s portfolio, making the stock its 28th biggest holding. Pittenger & Anderson Inc.’s holdings in ResMed were worth $24,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in ResMed by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider’s stock valued at $4,139,815,000 after acquiring an additional 320,240 shares during the last quarter. Northern Trust Corp raised its holdings in ResMed by 2.5% in the 1st quarter. Northern Trust Corp now owns 1,744,541 shares of the medical equipment provider’s stock valued at $390,516,000 after acquiring an additional 41,951 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in ResMed by 4.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 998,128 shares of the medical equipment provider’s stock valued at $223,431,000 after acquiring an additional 41,108 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in ResMed by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider’s stock valued at $218,791,000 after acquiring an additional 22,789 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in ResMed by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 793,760 shares of the medical equipment provider’s stock valued at $177,652,000 after acquiring an additional 51,348 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

ResMed stock opened at $271.44 on Tuesday. The firm has a 50 day simple moving average of $276.88 and a 200-day simple moving average of $258.14. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The stock has a market cap of $39.61 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $2.08 EPS. On average, analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, August 14th. This is an increase from ResMed’s previous quarterly dividend of $0.53. ResMed’s dividend payout ratio is 25.24%.

Analyst Upgrades and Downgrades

A number of analysts have commented on RMD shares. Wells Fargo & Company started coverage on shares of ResMed in a report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price objective for the company. Royal Bank Of Canada increased their price objective on shares of ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 1st. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Piper Sandler increased their price objective on shares of ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Finally, Citigroup assumed coverage on shares of ResMed in a research note on Thursday, September 18th. They issued a “buy” rating and a $330.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average price target of $292.91.

Insider Buying and Selling

In related news, Director John Hernandez sold 2,575 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. Rider sold 100 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares of the company’s stock, valued at $3,107,675.72. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,743 shares of company stock valued at $5,284,514. Company insiders own 0.65% of the company’s stock.

ResMed Profile

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.