ResMed Inc. (NYSE:RMD) Stock Holdings Lifted by EntryPoint Capital LLC

EntryPoint Capital LLC increased its stake in shares of ResMed Inc. (NYSE:RMD) by 42.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 626 shares of the medical equipment provider’s stock after buying an additional 188 shares during the quarter. EntryPoint Capital LLC’s holdings in ResMed were worth $124,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of ResMed during the fourth quarter worth approximately $27,000. Hall Laurie J Trustee acquired a new stake in shares of ResMed during the first quarter worth approximately $32,000. BOK Financial Private Wealth Inc. acquired a new stake in ResMed in the first quarter valued at approximately $35,000. Planned Solutions Inc. acquired a new stake in ResMed in the fourth quarter valued at approximately $34,000. Finally, Riverview Trust Co acquired a new stake in ResMed in the first quarter valued at approximately $42,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

ResMed stock traded down $9.69 on Friday, hitting $198.65. The company’s stock had a trading volume of 787,751 shares, compared to its average volume of 1,044,733. The firm has a market cap of $29.18 billion, a P/E ratio of 32.01, a price-to-earnings-growth ratio of 1.78 and a beta of 0.66. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $204.57 and a 200-day moving average price of $194.82. ResMed Inc. has a one year low of $132.24 and a one year high of $229.97.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company earned $1.68 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that ResMed Inc. will post 7.7 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the transaction, the director now owns 8,446 shares in the company, valued at approximately $1,815,214.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the transaction, the chief executive officer now directly owns 440,752 shares in the company, valued at approximately $95,422,808. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Karen Drexler sold 425 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the transaction, the director now owns 8,446 shares in the company, valued at $1,815,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 46,834 shares of company stock worth $9,694,137 in the last 90 days. Corporate insiders own 1.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on RMD shares. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Needham & Company LLC reissued a “buy” rating and issued a $236.00 price target on shares of ResMed in a research report on Monday, June 24th. Royal Bank of Canada lifted their price target on shares of ResMed from $200.00 to $204.00 and gave the company a “sector perform” rating in a research report on Tuesday. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Finally, KeyCorp lifted their price target on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus price target of $203.20.

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.