Signaturefd LLC Acquires 1,555 Shares of ResMed Inc. (NYSE:RMD)

Signaturefd LLC grew its holdings in ResMed Inc. (NYSE:RMD) by 56.4% in the fourth quarter, HoldingsChannel reports. The fund owned 4,313 shares of the medical equipment provider’s stock after buying an additional 1,555 shares during the period. Signaturefd LLC’s holdings in ResMed were worth $742,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Morgan Stanley lifted its position in ResMed by 102.4% during the third 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 during the period. LGT Capital Partners LTD. acquired a new position in shares of ResMed in the fourth quarter valued at approximately $117,621,000. abrdn plc increased its stake in shares of ResMed by 79.2% in the third quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock valued at $133,303,000 after buying an additional 398,302 shares during the period. Hsbc Holdings PLC increased its stake in shares of ResMed by 109.9% in the third quarter. Hsbc Holdings PLC now owns 490,214 shares of the medical equipment provider’s stock valued at $72,785,000 after buying an additional 256,624 shares during the period. Finally, UBS Group AG increased its stake in shares of ResMed by 109.3% in the third quarter. UBS Group AG now owns 457,717 shares of the medical equipment provider’s stock valued at $67,683,000 after buying an additional 239,001 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $184.14 on Wednesday. The company has a market cap 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 52 week low of $132.24 and a 52 week high of $243.52. 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 firm has a 50 day moving average of $186.24 and a 200-day moving average of $171.30.

ResMed (NYSE:RMD) last announced 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 company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.66 EPS. On average, equities analysts forecast that ResMed Inc. will post 7.47 earnings per share for the current year.

Insider Buying and Selling

In related 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 transaction, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 transaction, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock worth $2,046,617 in the last ninety days. Corporate insiders own 1.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RMD shares. JPMorgan Chase & Co. upped their price objective on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. KeyCorp started coverage on ResMed in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price objective for the company. 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 note on Monday, April 1st. UBS Group upped their price objective on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Finally, Mizuho reissued a “buy” rating and set a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $199.20.

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.