ResMed Inc. (NYSE:RMD) Shares Purchased by EntryPoint Capital LLC

EntryPoint Capital LLC increased its stake in shares of ResMed Inc. (NYSE:RMD) by 42.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 626 shares of the medical equipment provider’s stock after purchasing an additional 188 shares during the period. EntryPoint Capital LLC’s holdings in ResMed were worth $124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Pitcairn Co. acquired a new position in shares of ResMed during the 1st quarter worth about $219,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in ResMed by 57.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,629 shares of the medical equipment provider’s stock valued at $521,000 after acquiring an additional 959 shares during the last quarter. Vaughan David Investments LLC IL raised its holdings in ResMed by 12.3% in the 1st quarter. Vaughan David Investments LLC IL now owns 191,469 shares of the medical equipment provider’s stock valued at $37,917,000 after acquiring an additional 21,010 shares during the last quarter. Lake Street Advisors Group LLC acquired a new stake in ResMed in the 1st quarter valued at about $213,000. Finally, Bessemer Group Inc. raised its holdings in ResMed by 14.7% in the 1st quarter. Bessemer Group Inc. now owns 1,725 shares of the medical equipment provider’s stock valued at $342,000 after acquiring an additional 221 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $85,060,983.03. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $85,060,983.03. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the completion of the sale, the chief financial officer now owns 90,056 shares in the company, valued at $17,502,383.60. 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 ninety days. 1.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

ResMed Trading Down 4.7 %

Shares of NYSE:RMD traded down $9.69 during mid-day trading on Friday, reaching $198.65. 787,751 shares of the company were exchanged, compared to its average volume of 1,044,733. The firm has a market cap of $29.18 billion, a price-to-earnings ratio of 32.01, a P/E/G ratio of 1.78 and a beta of 0.66. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $229.97. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The firm’s 50-day simple moving average is $204.57 and its 200 day simple moving average is $194.82.

ResMed (NYSE:RMD) last released its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.68 EPS. Equities research analysts forecast that ResMed Inc. will post 7.7 EPS for the current year.

ResMed Profile

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.