WoodTrust Financial Corp Raises Stock Position in ResMed Inc. (NYSE:RMD)

WoodTrust Financial Corp lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 6.0% during the first quarter, HoldingsChannel.com reports. The fund owned 7,020 shares of the medical equipment provider’s stock after buying an additional 400 shares during the quarter. WoodTrust Financial Corp’s holdings in ResMed were worth $1,390,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of ResMed during the fourth quarter worth approximately $27,000. Planned Solutions Inc. purchased a new position in shares of ResMed during the fourth quarter worth approximately $34,000. Riverview Trust Co purchased a new position in shares of ResMed during the first quarter worth approximately $42,000. MV Capital Management Inc. increased its holdings 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 buying an additional 60 shares during the period. Finally, Operose Advisors LLC purchased a new position in ResMed during the third quarter valued at approximately $32,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In related news, Director Witte Jan De sold 360 shares of the business’s 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 completion of the transaction, the director now directly owns 7,519 shares in the company, valued at $1,641,322.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $209.81, for a total transaction of $209,810.00. Following the completion of the transaction, the chief financial officer now directly owns 91,056 shares in the company, valued at $19,104,459.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Witte Jan De sold 360 shares of the business’s 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 of the company’s stock, valued at $1,641,322.51. The disclosure for this sale can be found here. Insiders sold 31,151 shares of company stock worth $6,666,409 over the last three months. Company insiders own 1.21% of the company’s stock.

ResMed Stock Performance

Shares of NYSE:RMD traded down $0.16 on Friday, hitting $191.42. 3,500,754 shares of the company were exchanged, compared to its average volume of 1,291,510. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $229.97. The stock’s 50 day moving average price is $208.47 and its 200 day moving average price is $191.10. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $28.12 billion, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 1.88 and a beta of 0.68.

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

ResMed Dividend Announcement

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

Wall Street Analysts Forecast Growth

RMD has been the topic of several research reports. Royal Bank of Canada lifted their price objective on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $236.00 price objective on shares of ResMed in a report on Monday, June 24th. Mizuho restated a “buy” rating and issued a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Finally, Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently 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.