Parkside Financial Bank & Trust Increases Holdings in ResMed Inc. (NYSE:RMD)

Parkside Financial Bank & Trust increased its stake in ResMed Inc. (NYSE:RMD) by 65.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 403 shares of the medical equipment provider’s stock after purchasing an additional 159 shares during the quarter. Parkside Financial Bank & Trust’s holdings in ResMed were worth $69,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Morgan Stanley boosted its holdings in shares of ResMed by 102.4% in the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock worth $344,481,000 after purchasing an additional 1,178,547 shares in the last quarter. LGT Capital Partners LTD. purchased a new position in shares of ResMed in the 4th quarter worth about $117,621,000. abrdn plc boosted its holdings in shares of ResMed by 79.2% in the 3rd quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock worth $133,303,000 after purchasing an additional 398,302 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of ResMed by 109.9% in the 3rd quarter. Hsbc Holdings PLC now owns 490,214 shares of the medical equipment provider’s stock valued at $72,785,000 after acquiring an additional 256,624 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of ResMed by 109.3% in the 3rd quarter. UBS Group AG now owns 457,717 shares of the medical equipment provider’s stock valued at $67,683,000 after acquiring an additional 239,001 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RMD shares. Needham & Company LLC boosted their target price on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, April 1st. UBS Group boosted their target price on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Mizuho reissued a “buy” rating and issued a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Royal Bank of Canada boosted their target price on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. upped their price target on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.20.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now owns 6,688 shares in the company, valued at $1,158,696. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock worth $2,046,617 in the last 90 days. Insiders own 1.21% of the company’s stock.

ResMed Stock Performance

ResMed stock opened at $183.43 on Friday. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $26.98 billion, a P/E ratio of 30.32, a PEG ratio of 2.25 and a beta of 0.67. The stock’s 50 day moving average is $186.31 and its 200 day moving average is $171.47. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $243.52.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.68 EPS. On average, equities research analysts predict that ResMed Inc. will post 7.47 earnings per share for the current fiscal year.

ResMed 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.