1,023 Shares in ResMed Inc. $RMD Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC purchased a new stake in shares of ResMed Inc. (NYSE:RMD) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,023 shares of the medical equipment provider’s stock, valued at approximately $264,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ballentine Partners LLC grew its holdings in shares of ResMed by 6.3% during the first quarter. Ballentine Partners LLC now owns 1,782 shares of the medical equipment provider’s stock valued at $399,000 after buying an additional 105 shares during the last quarter. Inspire Investing LLC lifted its position in ResMed by 29.3% during the 1st quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock worth $6,397,000 after acquiring an additional 6,472 shares during the period. Intech Investment Management LLC grew its stake in ResMed by 63.2% during the 1st quarter. Intech Investment Management LLC now owns 15,325 shares of the medical equipment provider’s stock valued at $3,430,000 after purchasing an additional 5,934 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in ResMed by 8.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 739,007 shares of the medical equipment provider’s stock valued at $165,427,000 after purchasing an additional 58,155 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of ResMed by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider’s stock valued at $218,791,000 after purchasing an additional 22,789 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Mizuho decreased their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Royal Bank Of Canada lifted their price objective on shares of ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. William Blair raised shares of ResMed to a “strong-buy” rating in a report on Friday, August 1st. Robert W. Baird cut their price objective on shares of ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Finally, Citigroup initiated coverage on shares of ResMed in a research report on Thursday, September 18th. They set a “buy” rating and a $330.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $297.45.

Insider Transactions at ResMed

In related news, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the completion of the transaction, the general counsel owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. This represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Hernandez sold 2,575 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $287.10, for a total value of $739,282.50. Following the transaction, the director owned 4,045 shares in the company, valued at $1,161,319.50. This represents a 38.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,684 shares of company stock valued at $3,032,064 in the last ninety days. 0.65% of the stock is currently owned by corporate insiders.

ResMed Trading Up 0.7%

ResMed stock opened at $251.41 on Friday. The firm has a market cap of $36.69 billion, a PE ratio of 26.44, a P/E/G ratio of 1.75 and a beta of 0.87. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The stock’s 50 day simple moving average is $268.54 and its two-hundred day simple moving average is $261.99. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the business posted $2.20 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given a $0.60 dividend. The ex-dividend date is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s dividend payout ratio is 24.56%.

ResMed Company Profile

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.