Linden Thomas Advisory Services LLC Boosts Stock Position in ResMed Inc. (NYSE:RMD)

Linden Thomas Advisory Services LLC lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 3.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,377 shares of the medical equipment provider’s stock after buying an additional 462 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in ResMed were worth $3,517,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RMD. UMB Bank n.a. boosted its stake in ResMed by 1.9% during the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after acquiring an additional 47 shares during the last quarter. Ascent Group LLC raised its stake in shares of ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after purchasing an additional 48 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares during the last quarter. Wedmont Private Capital increased its holdings in ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after buying an additional 52 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in ResMed by 3.1% in the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analysts Set New Price Targets

RMD has been the subject of several research reports. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. Royal Bank of Canada lifted their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Robert W. Baird increased their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Stifel Nicolaus started coverage on shares of ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target for the company. Finally, Piper Sandler started coverage on shares of ResMed in a research note on Friday, January 10th. They set a “neutral” rating and a $252.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $233.09.

Insider Activity at ResMed

In other news, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the transaction, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Witte Jan De sold 796 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. This represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,099 shares of company stock worth $2,719,385 over the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

ResMed Stock Performance

Shares of NYSE RMD opened at $250.32 on Friday. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $260.49. The company has a market cap of $36.75 billion, a PE ratio of 33.15, a P/E/G ratio of 1.78 and a beta of 0.70. The stock has a 50 day simple moving average of $239.25 and a 200-day simple moving average of $234.40. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last announced its quarterly earnings results 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. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 EPS. On average, equities research analysts forecast that ResMed Inc. will post 9.35 EPS for the current 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.