Inspire Investing LLC Has $5.06 Million Stock Position in ResMed Inc. (NYSE:RMD)

Inspire Investing LLC lowered its stake in ResMed Inc. (NYSE:RMD) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,106 shares of the medical equipment provider’s stock after selling 485 shares during the quarter. Inspire Investing LLC’s holdings in ResMed were worth $5,056,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Peak Financial Advisors LLC acquired a new position in ResMed during the fourth quarter worth approximately $2,972,000. Principal Financial Group Inc. increased its position in ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after buying an additional 5,284 shares during the last quarter. Retireful LLC acquired a new position in ResMed during the third quarter worth approximately $742,000. Asset Management One Co. Ltd. increased its position in ResMed by 5.1% during the third quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after buying an additional 2,878 shares during the last quarter. Finally, Empowered Funds LLC increased its position in ResMed by 284.3% during the third quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock worth $2,004,000 after buying an additional 6,072 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RMD. Robert W. Baird upped their target price on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Bank of America upped their target price on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada upped their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $233.09.

Insider Activity

In other news, insider Justin Leong sold 6,160 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total value of $497,480.00. Following the completion of the transaction, the director now owns 83,204 shares of the company’s stock, valued at $20,696,162.96. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,099 shares of company stock worth $2,719,385. Insiders own 0.71% of the company’s stock.

ResMed Trading Down 0.2 %

Shares of RMD stock opened at $247.36 on Thursday. The stock has a 50 day simple moving average of $238.59 and a 200 day simple moving average of $233.90. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $260.49. The stock has a market cap of $36.31 billion, a P/E ratio of 32.76, a price-to-earnings-growth ratio of 1.79 and a beta of 0.70.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company earned $1.64 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that ResMed Inc. will post 9.35 earnings per share 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. 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.