Stock Yards Bank & Trust Co. Takes $206,000 Position in ResMed Inc. (NYSE:RMD)

Stock Yards Bank & Trust Co. bought a new stake in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,200 shares of the medical equipment provider’s stock, valued at approximately $206,000.

Several other hedge funds have also recently made changes to their positions in RMD. EverSource Wealth Advisors LLC increased its stake in shares of ResMed by 224.6% during the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 128 shares during the period. Operose Advisors LLC purchased a new stake in ResMed in the third quarter worth $32,000. Planned Solutions Inc. purchased a new stake in ResMed in the fourth quarter worth $34,000. MV Capital Management Inc. grew its stake in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in ResMed in the fourth quarter worth $45,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Trading Down 0.3 %

Shares of NYSE:RMD opened at $183.74 on Thursday. The company has a market cap of $27.03 billion, a P/E ratio of 30.37, a PEG ratio of 2.26 and a beta of 0.67. 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 Inc. has a 1 year low of $132.24 and a 1 year high of $243.52. The stock’s fifty day moving average price is $186.30 and its 200-day moving average price is $171.39.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 earnings per share. Sell-side analysts expect that ResMed Inc. will post 7.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Oppenheimer upped their price target on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Royal Bank of Canada upped their price target on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. upped their price target on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. KeyCorp started coverage on ResMed in a report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 target price on the stock. Finally, Mizuho reissued a “buy” rating and issued a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $199.20.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the 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 completion of the transaction, 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. Insiders have sold a total of 11,216 shares of company stock valued at $2,046,617 over the last ninety days. 1.21% of the stock is currently owned by corporate insiders.

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.