6,513 Shares in ResMed Inc. (NYSE:RMD) Purchased by Stevens Capital Management LP

Stevens Capital Management LP purchased a new position in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,513 shares of the medical equipment provider’s stock, valued at approximately $1,120,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RMD. CWM LLC grew its position in shares of ResMed by 44.8% during the third quarter. CWM LLC now owns 3,881 shares of the medical equipment provider’s stock valued at $574,000 after purchasing an additional 1,200 shares in the last quarter. AE Wealth Management LLC boosted its stake in ResMed by 35.9% during the third quarter. AE Wealth Management LLC now owns 6,573 shares of the medical equipment provider’s stock valued at $972,000 after buying an additional 1,738 shares during the last quarter. Global Retirement Partners LLC grew its holdings in ResMed by 12.9% during the 3rd quarter. Global Retirement Partners LLC now owns 840 shares of the medical equipment provider’s stock valued at $124,000 after buying an additional 96 shares in the last quarter. HB Wealth Management LLC bought a new stake in ResMed in the 3rd quarter worth approximately $223,000. Finally, Riverview Trust Co raised its holdings in shares of ResMed by 255.9% during the 3rd quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 151 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,216 shares of company stock worth $2,046,617. Company insiders own 1.21% of the company’s stock.

ResMed Trading Up 18.9 %

Shares of NYSE:RMD traded up $34.64 during trading hours on Friday, hitting $218.06. 4,330,178 shares of the company’s stock traded hands, compared to its average volume of 1,056,215. The firm has a market capitalization of $32.07 billion, a P/E ratio of 35.71, a price-to-earnings-growth ratio of 2.25 and a beta of 0.67. The business has a fifty day moving average price of $186.31 and a 200-day moving average price of $171.47. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $243.52. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Mizuho reissued a “buy” rating and issued a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Oppenheimer dropped their price objective on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday. KeyCorp boosted their target price on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday. Needham & Company LLC increased their price target on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.