PNC Financial Services Group Inc. Increases Stock Position in ResMed Inc. (NYSE:RMD)

PNC Financial Services Group Inc. grew its position in shares of ResMed Inc. (NYSE:RMD) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,227 shares of the medical equipment provider’s stock after purchasing an additional 1,842 shares during the period. PNC Financial Services Group Inc. owned approximately 0.06% of ResMed worth $16,209,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MV Capital Management Inc. raised its stake in ResMed by 39.0% during the fourth 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 in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of ResMed by 7.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock valued at $155,000 after buying an additional 64 shares in the last quarter. Czech National Bank grew its position in ResMed by 0.3% in the fourth quarter. Czech National Bank now owns 25,762 shares of the medical equipment provider’s stock worth $4,432,000 after acquiring an additional 81 shares in the last quarter. Alliance Wealth Advisors LLC UT increased its stake in ResMed by 5.9% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 1,567 shares of the medical equipment provider’s stock worth $270,000 after acquiring an additional 88 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in ResMed by 1.6% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,490 shares of the medical equipment provider’s stock valued at $1,116,000 after purchasing an additional 105 shares during the period. 54.98% of the stock is owned by institutional investors.

Insider Activity

In other ResMed news, Director Witte Jan De sold 360 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the sale, the director now owns 7,519 shares in the company, valued at $1,641,322.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other ResMed news, Director Karen Drexler sold 425 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the sale, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Witte Jan De sold 360 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the transaction, the director now directly owns 7,519 shares in the company, valued at $1,641,322.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,151 shares of company stock worth $6,666,409. 1.21% of the stock is currently owned by corporate insiders.

ResMed Stock Performance

ResMed stock opened at $210.35 on Tuesday. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $229.97. The company has a market capitalization of $30.90 billion, a PE ratio of 32.31, a P/E/G ratio of 2.08 and a beta of 0.69. The company has a 50 day moving average price of $206.16 and a 200-day moving average price of $189.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04.

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

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is 29.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RMD shares. Needham & Company LLC lifted their target price on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, April 26th. KeyCorp boosted their price objective on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Oppenheimer lowered their target price on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Royal Bank of Canada upped their price target on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Finally, Mizuho reissued a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

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.