Lindbrook Capital LLC Boosts Stake in ResMed Inc. (NYSE:RMD)

Lindbrook Capital LLC lifted its stake in ResMed Inc. (NYSE:RMD) by 105.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 917 shares of the medical equipment provider’s stock after purchasing an additional 471 shares during the quarter. Lindbrook Capital LLC’s holdings in ResMed were worth $158,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 128 shares in the last quarter. Planned Solutions Inc. bought a new position in ResMed in the 4th quarter valued at approximately $34,000. Riverview Trust Co lifted its position in ResMed by 255.9% in the 3rd quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 151 shares in the last quarter. MV Capital Management Inc. lifted its position in ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 60 shares in the last quarter. Finally, Operose Advisors LLC bought a new position in ResMed in the 3rd quarter valued at approximately $32,000. 54.98% of the stock is owned by institutional investors.

Insider Transactions at ResMed

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

ResMed Trading Up 2.1 %

NYSE:RMD opened at $184.14 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. The firm has a market capitalization of $27.09 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 2.21 and a beta of 0.67. ResMed Inc. has a one year low of $132.24 and a one year high of $243.52. The business has a fifty day moving average price of $186.24 and a 200-day moving average price of $171.30.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.81 by $0.07. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. ResMed’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 EPS. Sell-side analysts forecast that ResMed Inc. will post 7.47 EPS for the current year.

Wall Street Analyst Weigh In

RMD has been the topic of several analyst reports. Needham & Company LLC upped their price objective on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Royal Bank of Canada upped their price objective on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research report on Thursday, January 25th. Oppenheimer upped their price objective on ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Mizuho reaffirmed a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Finally, UBS Group boosted their target price on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $199.20.

About ResMed

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.