Pacer Advisors Inc. Purchases 26,466 Shares of ResMed Inc. $RMD

Pacer Advisors Inc. lifted its position in ResMed Inc. (NYSE:RMD) by 5.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 506,378 shares of the medical equipment provider’s stock after purchasing an additional 26,466 shares during the quarter. Pacer Advisors Inc.’s holdings in ResMed were worth $113,672,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. State Street Corp raised its holdings in shares of ResMed by 1.2% during the 4th quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock valued at $1,595,862,000 after buying an additional 76,244 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of ResMed by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider’s stock worth $1,105,651,000 after acquiring an additional 34,732 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ResMed by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock valued at $1,032,877,000 after purchasing an additional 51,218 shares in the last quarter. Morgan Stanley boosted its holdings in ResMed by 25.0% during the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock valued at $696,523,000 after acquiring an additional 578,559 shares during the period. Finally, Northern Trust Corp boosted its position in ResMed by 5.2% during the 4th quarter. Northern Trust Corp now owns 1,785,384 shares of the medical equipment provider’s stock valued at $430,045,000 after buying an additional 87,502 shares during the period. 54.98% of the stock is currently owned by institutional investors.

ResMed Price Performance

RMD stock opened at $211.39 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The firm has a 50 day moving average price of $198.86 and a 200-day moving average price of $223.34. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81. The firm has a market capitalization of $30.66 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.28 and a beta of 0.76.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the business posted $2.37 EPS. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts forecast that ResMed Inc. will post 11.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating on the stock. Royal Bank Of Canada downgraded ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 target price on the stock. in a report on Thursday, July 16th. UBS Group reissued a “buy” rating and issued a $300.00 target price on shares of ResMed in a research report on Tuesday, July 21st. Citigroup restated a “neutral” rating and issued a $235.00 target price (down from $270.00) on shares of ResMed in a research note on Sunday, July 12th. Finally, Weiss Ratings lowered ResMed from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $246.25.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total value of $1,090,783.05. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $101,893,036.65. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,973 shares of company stock worth $3,096,067 in the last three months. 0.65% of the stock is currently owned by insiders.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.