Simon Quick Advisors LLC Purchases 136 Shares of ResMed Inc. (NYSE:RMD)

Simon Quick Advisors LLC increased its position in ResMed Inc. (NYSE:RMD) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,649 shares of the medical equipment provider’s stock after purchasing an additional 136 shares during the quarter. Simon Quick Advisors LLC’s holdings in ResMed were worth $377,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RMD. Sei Investments Co. boosted its stake in shares of ResMed by 68.1% during the 2nd quarter. Sei Investments Co. now owns 36,501 shares of the medical equipment provider’s stock worth $6,987,000 after acquiring an additional 14,793 shares during the period. ProShare Advisors LLC boosted its position in ResMed by 6.1% during the second quarter. ProShare Advisors LLC now owns 26,622 shares of the medical equipment provider’s stock worth $5,096,000 after purchasing an additional 1,522 shares during the period. Frank Rimerman Advisors LLC acquired a new position in shares of ResMed in the second quarter valued at $259,000. Public Sector Pension Investment Board raised its position in shares of ResMed by 74.1% in the second quarter. Public Sector Pension Investment Board now owns 5,632 shares of the medical equipment provider’s stock valued at $1,078,000 after purchasing an additional 2,398 shares during the period. Finally, Evergreen Capital Management LLC lifted its stake in shares of ResMed by 36.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,402 shares of the medical equipment provider’s stock worth $268,000 after buying an additional 378 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

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

ResMed Price Performance

Shares of NYSE:RMD opened at $248.90 on Friday. The firm has a 50 day moving average of $238.59 and a 200-day moving average of $233.90. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $260.49. 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 capitalization of $36.54 billion, a PE ratio of 32.97, a PEG ratio of 1.79 and a beta of 0.70.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $1.64 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts predict that ResMed Inc. will post 9.35 EPS for the current fiscal year.

Analysts Set New Price Targets

RMD has been the topic of several research analyst reports. Piper Sandler began coverage on shares of ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price target on the stock. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Bank of America upped their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Robert W. Baird increased their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ResMed currently has an average rating of “Hold” and an average price target of $233.09.

About ResMed

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.