Avalon Trust Co Grows Stock Holdings in ResMed Inc. $RMD

Avalon Trust Co raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,017 shares of the medical equipment provider’s stock after purchasing an additional 2,553 shares during the quarter. ResMed accounts for about 1.5% of Avalon Trust Co’s portfolio, making the stock its 20th largest position. Avalon Trust Co’s holdings in ResMed were worth $21,329,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Terra Nova Asset Management LLC increased its holdings in shares of ResMed by 0.6% in the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after buying an additional 46 shares during the last quarter. Occidental Asset Management LLC lifted its holdings in shares of ResMed by 3.0% in the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock valued at $409,000 after acquiring an additional 49 shares during the last quarter. Kera Capital Partners Inc. grew its position in ResMed by 6.6% in the fourth quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock worth $217,000 after acquiring an additional 52 shares in the last quarter. Andina Capital Management LLC grew its position in ResMed by 2.9% in the fourth quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock worth $479,000 after acquiring an additional 56 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in ResMed by 2.7% during the fourth quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock worth $542,000 after acquiring an additional 57 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Trading Up 2.1%

Shares of NYSE RMD opened at $202.66 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $199.56 and a two-hundred day simple moving average of $226.83. The firm has a market cap of $29.40 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business 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 company earned $2.37 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. Analysts expect that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 14th. ResMed’s dividend payout ratio is presently 23.14%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RMD. Weiss Ratings downgraded ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Mizuho dropped their target price on ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday. KeyCorp cut their target price on ResMed from $290.00 to $266.00 and set an “overweight” rating on the stock in a research report on Monday, June 22nd. Morgan Stanley restated an “equal weight” rating and set a $230.00 price target (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. Finally, Robert W. Baird set a $225.00 price target on ResMed in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average target price of $250.00.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $101,893,036.65. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 14,973 shares of company stock valued at $3,096,067. 0.65% of the stock is currently owned by corporate insiders.

ResMed 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.