Stevens Capital Management LP Takes $1.12 Million Position in ResMed Inc. (NYSE:RMD)

Stevens Capital Management LP purchased a new stake in ResMed Inc. (NYSE:RMD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,513 shares of the medical equipment provider’s stock, valued at approximately $1,120,000.

Several other large investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 128 shares during the period. Riverview Trust Co boosted its stake in ResMed by 255.9% in the third quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 151 shares during the period. Operose Advisors LLC acquired a new stake in shares of ResMed during the 3rd quarter worth approximately $32,000. Planned Solutions Inc. bought a new stake in shares of ResMed in the 4th quarter worth approximately $34,000. Finally, MV Capital Management Inc. boosted its position in ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 18.9 %

Shares of NYSE:RMD traded up $34.64 during mid-day trading on Friday, hitting $218.06. The stock had a trading volume of 4,330,178 shares, compared to its average volume of 1,056,215. The company’s 50 day moving average is $186.31 and its 200-day moving average is $171.47. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $243.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The company has a market cap of $32.07 billion, a PE ratio of 35.71, a P/E/G ratio of 2.25 and a beta of 0.67.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 EPS. On average, sell-side analysts predict that ResMed Inc. will post 7.47 EPS for the current year.

Analyst Ratings Changes

RMD has been the topic of several analyst reports. Royal Bank of Canada increased their target price on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday. UBS Group boosted their target price on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Mizuho reaffirmed a “buy” rating and set a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price target on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Finally, Needham & Company LLC raised their price objective on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.80.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,216 shares of company stock valued at $2,046,617. Corporate insiders own 1.21% of the company’s stock.

About ResMed

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.