Plato Investment Management Ltd Has $631,000 Stock Holdings in ResMed Inc. (NYSE:RMD)

Plato Investment Management Ltd raised its stake in ResMed Inc. (NYSE:RMD) by 79,500.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,184 shares of the medical equipment provider’s stock after acquiring an additional 3,180 shares during the period. Plato Investment Management Ltd’s holdings in ResMed were worth $631,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMD. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of ResMed in the fourth quarter worth about $27,000. Hall Laurie J Trustee acquired a new position in ResMed in the first quarter valued at about $32,000. BOK Financial Private Wealth Inc. bought a new stake in ResMed during the first quarter worth $35,000. Riverview Trust Co acquired a new stake in shares of ResMed in the 1st quarter valued at approximately $42,000. Finally, MV Capital Management Inc. boosted its holdings in shares of ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 60 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RMD has been the topic of several research analyst reports. Royal Bank of Canada increased their target price on shares of ResMed from $200.00 to $204.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 23rd. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. KeyCorp upped their price target on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $236.00 price target on shares of ResMed in a research note on Friday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.50.

ResMed Price Performance

RMD stock traded up $8.29 on Friday, reaching $222.85. 1,761,835 shares of the company’s stock were exchanged, compared to its average volume of 1,058,125. The stock has a fifty day moving average of $203.68 and a 200-day moving average of $195.94. The firm has a market cap of $32.74 billion, a PE ratio of 34.26, a P/E/G ratio of 1.84 and a beta of 0.66. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $224.47.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the business posted $1.60 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that ResMed Inc. will post 7.7 EPS for the current fiscal year.

Insider Buying and Selling at ResMed

In related news, Director Witte Jan De sold 360 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the sale, the director now owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $211.66, for a total value of $3,107,803.78. Following the completion of the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $93,299,516.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Witte Jan De sold 360 shares of ResMed stock in a transaction dated 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 have sold a total of 46,409 shares of company stock worth $9,602,796 over the last three months. Corporate insiders own 1.21% of the company’s stock.

ResMed Company 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.