ResMed Inc. (NYSE:RMD) Stock Position Decreased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lowered its holdings in ResMed Inc. (NYSE:RMD) by 39.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,301 shares of the medical equipment provider’s stock after selling 23,562 shares during the period. Pittenger & Anderson Inc.’s holdings in ResMed were worth $6,244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. CWM LLC boosted its position in ResMed by 44.8% during the 3rd quarter. CWM LLC now owns 3,881 shares of the medical equipment provider’s stock valued at $574,000 after purchasing an additional 1,200 shares during the period. AE Wealth Management LLC boosted its holdings in shares of ResMed by 35.9% during the third quarter. AE Wealth Management LLC now owns 6,573 shares of the medical equipment provider’s stock valued at $972,000 after acquiring an additional 1,738 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of ResMed by 12.9% during the third quarter. Global Retirement Partners LLC now owns 840 shares of the medical equipment provider’s stock valued at $124,000 after acquiring an additional 96 shares during the period. HB Wealth Management LLC bought a new position in shares of ResMed during the third quarter worth about $223,000. Finally, Riverview Trust Co increased its holdings in shares of ResMed by 255.9% in the 3rd quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 151 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on RMD shares. KeyCorp upped their target price on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday. Oppenheimer raised their target price on ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Royal Bank of Canada boosted their price target on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday. Mizuho reissued a “buy” rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Finally, Needham & Company LLC lifted their price objective on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $203.30.

Insiders Place Their Bets

In other news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,216 shares of company stock worth $2,046,617. 1.21% of the stock is owned by insiders.

ResMed Price Performance

NYSE:RMD traded up $32.83 during mid-day trading on Friday, reaching $216.25. 2,890,077 shares of the stock were exchanged, compared to its average volume of 1,037,911. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average price of $186.31 and a 200 day moving average price of $171.47. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $243.52. The firm has a market capitalization of $31.81 billion, a PE ratio of 35.25, a PEG ratio of 2.25 and a beta of 0.67.

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

ResMed Company 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.