True North Advisors LLC Invests $257,000 in ResMed Inc. (NYSE:RMD)

True North Advisors LLC purchased a new stake in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, Holdings Channel reports. The firm purchased 1,125 shares of the medical equipment provider’s stock, valued at approximately $257,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp grew its stake in ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after purchasing an additional 116,918 shares during the period. Geode Capital Management LLC grew its position in shares of ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after acquiring an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. increased its position in ResMed by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after buying an additional 13,985 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in ResMed by 0.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after acquiring an additional 2,406 shares during the last quarter. Finally, Greenvale Capital LLP increased its stake in shares of ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after purchasing an additional 275,000 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In other news, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now directly owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock valued at $2,719,385 in the last three months. 0.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Royal Bank of Canada raised their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Piper Sandler began coverage on shares of ResMed in a research note on Friday, January 10th. They issued a “neutral” rating and a $252.00 price target for the company. Stifel Nicolaus began coverage on ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective on the stock. Finally, StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of “Hold” and a consensus price target of $233.09.

ResMed Stock Up 0.6 %

Shares of NYSE:RMD opened at $248.90 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $260.49. The firm has a market capitalization of $36.54 billion, a P/E ratio of 32.97, a P/E/G ratio of 1.79 and a beta of 0.70. The stock has a 50 day moving average price of $238.59 and a 200-day moving average price of $233.90.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company earned $1.64 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts anticipate that ResMed Inc. will post 9.35 EPS 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. 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.