CVA Family Office LLC Acquires 48 Shares of ResMed Inc. (NYSE:RMD)

CVA Family Office LLC increased its position in ResMed Inc. (NYSE:RMD) by 29.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 209 shares of the medical equipment provider’s stock after acquiring an additional 48 shares during the quarter. CVA Family Office LLC’s holdings in ResMed were worth $47,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RMD. GAMMA Investing LLC grew its stake in ResMed by 23,982.6% during the first quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider’s stock valued at $164,207,000 after acquiring an additional 730,510 shares in the last quarter. Invesco Ltd. grew its stake in ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after acquiring an additional 566,046 shares in the last quarter. Norges Bank purchased a new position in ResMed during the fourth quarter valued at approximately $118,605,000. Captrust Financial Advisors grew its stake in ResMed by 813.4% during the fourth quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider’s stock valued at $101,387,000 after acquiring an additional 394,803 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in ResMed by 133.6% during the fourth quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider’s stock valued at $142,944,000 after acquiring an additional 357,466 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RMD shares. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Royal Bank of Canada boosted their price target on shares of ResMed from $247.00 to $255.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 24th. UBS Group cut their price target on shares of ResMed from $290.00 to $285.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus cut their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Finally, KeyCorp set a $274.00 price target on shares of ResMed in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $259.33.

ResMed Stock Performance

Shares of NYSE RMD opened at $249.16 on Monday. The firm’s 50-day moving average price is $236.81 and its 200-day moving average price is $234.64. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market cap of $36.53 billion, a PE ratio of 29.42, a PEG ratio of 1.53 and a beta of 0.78. ResMed Inc. has a 52-week low of $179.42 and a 52-week high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 earnings per share. As a group, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Thursday, May 8th. ResMed’s payout ratio is 23.79%.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $251.21, for a total transaction of $2,011,940.89. Following the sale, the chief executive officer now owns 455,503 shares in the company, valued at approximately $114,426,908.63. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Witte Jan De sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the sale, the director now owns 5,806 shares in the company, valued at approximately $1,413,586.82. The trade was a 25.62% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,132 shares of company stock worth $7,075,837. Company insiders own 0.71% of the company’s stock.

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.