Hunter Associates Investment Management LLC Sells 530 Shares of ResMed Inc. (NYSE:RMD)

Hunter Associates Investment Management LLC trimmed its stake in ResMed Inc. (NYSE:RMD) by 1.1% during the 4th quarter, Holdings Channel reports. The firm owned 49,835 shares of the medical equipment provider’s stock after selling 530 shares during the quarter. ResMed comprises approximately 1.7% of Hunter Associates Investment Management LLC’s portfolio, making the stock its 13th biggest holding. Hunter Associates Investment Management LLC’s holdings in ResMed were worth $11,395,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of RMD. Public Sector Pension Investment Board raised its position in shares of ResMed by 74.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 5,632 shares of the medical equipment provider’s stock valued at $1,078,000 after buying an additional 2,398 shares in the last quarter. Creative Planning raised its position in ResMed by 4.7% during the second quarter. Creative Planning now owns 24,282 shares of the medical equipment provider’s stock valued at $4,648,000 after purchasing an additional 1,082 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in ResMed by 30.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,133 shares of the medical equipment provider’s stock worth $982,000 after purchasing an additional 1,208 shares during the last quarter. Quarry LP boosted its holdings in shares of ResMed by 271.9% in the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 242 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of ResMed by 26.8% during the 2nd quarter. Cetera Investment Advisers now owns 9,721 shares of the medical equipment provider’s stock valued at $1,861,000 after purchasing an additional 2,053 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Trading Up 1.9 %

NYSE:RMD opened at $257.63 on Friday. The company has a 50-day moving average price of $240.04 and a 200-day moving average price of $235.84. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $37.82 billion, a price-to-earnings ratio of 34.12, a P/E/G ratio of 1.83 and a beta of 0.70. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 25.53% and a net margin of 23.15%. Equities analysts predict that ResMed Inc. will post 9.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RMD shares. Piper Sandler initiated coverage on ResMed in a research note on Friday, January 10th. They issued a “neutral” rating and a $252.00 target price for the company. The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Stifel Nicolaus began coverage on ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price objective on the stock. Finally, Royal Bank of Canada increased their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $238.40.

Insider Transactions at ResMed

In other news, insider Justin Leong sold 6,160 shares of the firm’s 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 completion of the transaction, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the transaction, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,030 shares of company stock valued at $2,702,687 in the last three months. 0.71% of the stock is currently owned by company insiders.

ResMed 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.