PNC Financial Services Group Inc. Buys 1,005 Shares of ResMed Inc. (NYSE:RMD)

PNC Financial Services Group Inc. boosted its stake in ResMed Inc. (NYSE:RMDGet Rating) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,340 shares of the medical equipment provider’s stock after acquiring an additional 1,005 shares during the period. PNC Financial Services Group Inc. owned 0.07% of ResMed worth $25,546,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. CAPROCK Group Inc. boosted its holdings in ResMed by 5.3% in the first quarter. CAPROCK Group Inc. now owns 982 shares of the medical equipment provider’s stock valued at $238,000 after acquiring an additional 49 shares during the last quarter. We Are One Seven LLC boosted its holdings in shares of ResMed by 1.8% during the 4th quarter. We Are One Seven LLC now owns 2,965 shares of the medical equipment provider’s stock worth $772,000 after buying an additional 51 shares in the last quarter. River Wealth Advisors LLC boosted its holdings in shares of ResMed by 2.5% during the 1st quarter. River Wealth Advisors LLC now owns 2,288 shares of the medical equipment provider’s stock worth $555,000 after buying an additional 55 shares in the last quarter. Great Lakes Advisors LLC boosted its holdings in shares of ResMed by 0.5% during the 4th quarter. Great Lakes Advisors LLC now owns 12,300 shares of the medical equipment provider’s stock worth $3,204,000 after buying an additional 66 shares in the last quarter. Finally, Zacks Investment Management boosted its holdings in shares of ResMed by 0.7% during the 4th quarter. Zacks Investment Management now owns 9,866 shares of the medical equipment provider’s stock worth $2,569,000 after buying an additional 66 shares in the last quarter. 65.50% of the stock is currently owned by institutional investors.

ResMed Trading Down 0.5 %

NYSE RMD opened at $219.44 on Wednesday. The firm has a market capitalization of $32.13 billion, a P/E ratio of 41.33, a PEG ratio of 3.17 and a beta of 0.47. The business has a fifty day simple moving average of $226.93 and a 200 day simple moving average of $225.61. ResMed Inc. has a 12 month low of $189.40 and a 12 month high of $301.34. The company has a current ratio of 2.80, a quick ratio of 1.72 and a debt-to-equity ratio of 0.23.

ResMed (NYSE:RMDGet Rating) last released its quarterly earnings results on Thursday, August 11th. The medical equipment provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $914.74 million during the quarter, compared to analyst estimates of $912.53 million. ResMed had a return on equity of 26.56% and a net margin of 21.78%. ResMed’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.35 EPS. On average, analysts predict that ResMed Inc. will post 6.57 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, August 18th will be given a dividend of $0.44 per share. The ex-dividend date is Wednesday, August 17th. This is a positive change from ResMed’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 0.80%. ResMed’s dividend payout ratio (DPR) is currently 33.15%.

Analyst Ratings Changes

A number of research firms have issued reports on RMD. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a report on Friday, August 12th. They noted that the move was a valuation call. Royal Bank of Canada cut ResMed from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $246.00 to $252.00 in a report on Friday, August 12th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. cut ResMed from an “overweight” rating to a “neutral” rating in a report on Friday, August 12th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $266.40.

Insider Activity

In other news, insider David Pendarvis sold 1,545 shares of the firm’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $209.44, for a total transaction of $323,584.80. Following the completion of the sale, the insider now directly owns 108,376 shares of the company’s stock, valued at approximately $22,698,269.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Brett Sandercock sold 7,500 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $235.00, for a total transaction of $1,762,500.00. Following the completion of the transaction, the chief financial officer now owns 106,426 shares in the company, valued at approximately $25,010,110. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Pendarvis sold 1,545 shares of the stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $209.44, for a total value of $323,584.80. Following the transaction, the insider now owns 108,376 shares of the company’s stock, valued at approximately $22,698,269.44. The disclosure for this sale can be found here. Insiders sold a total of 25,985 shares of company stock valued at $5,813,646 in the last ninety days. 1.42% of the stock is currently owned by insiders.

ResMed Profile

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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 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.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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