Pittenger & Anderson Inc. Has $23.87 Million Position in ResMed Inc. $RMD

Pittenger & Anderson Inc. boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,337 shares of the medical equipment provider’s stock after acquiring an additional 2,964 shares during the period. Pittenger & Anderson Inc.’s holdings in ResMed were worth $23,871,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. UNIVEST FINANCIAL Corp increased its position in shares of ResMed by 9.6% in the first quarter. UNIVEST FINANCIAL Corp now owns 9,994 shares of the medical equipment provider’s stock worth $2,243,000 after purchasing an additional 876 shares during the period. Citizens Financial Group Inc. RI lifted its position in ResMed by 7.6% during the first quarter. Citizens Financial Group Inc. RI now owns 1,295 shares of the medical equipment provider’s stock worth $291,000 after purchasing an additional 92 shares during the period. Fifth Third Bancorp grew its stake in ResMed by 236.9% during the first quarter. Fifth Third Bancorp now owns 32,985 shares of the medical equipment provider’s stock worth $7,405,000 after buying an additional 23,194 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in ResMed during the first quarter worth about $228,000. Finally, Candriam S.C.A. increased its holdings in ResMed by 4.0% in the 1st quarter. Candriam S.C.A. now owns 10,945 shares of the medical equipment provider’s stock valued at $2,457,000 after buying an additional 425 shares during the period. 54.98% of the stock is currently owned by institutional investors.

More ResMed News

Here are the key news stories impacting ResMed this week:

• Positive Sentiment: ResMed’s sale of MatrixCare should simplify the portfolio, increase focus on higher-growth core franchises, and potentially improve capital allocation. Resmed Divests MatrixCare Business to Sharpen Focus on Connected Care
• Positive Sentiment: Analyst commentary has described the transaction as a “portfolio reset,” which suggests the market may view the move as strategically constructive for long-term growth. ResMed (RMD) Sells MatrixCare To Refocus On Sleep And Respiratory Health
• Positive Sentiment: Brokerage coverage remained supportive, with multiple firms reiterating buy-type ratings, reinforcing confidence in ResMed’s core business despite the divestiture. Resmed Inc CHESS Depositary Interests … Gets a Buy from Morgans
• Neutral Sentiment: Unusually large put-option activity suggests some traders are hedging or betting on downside, but it does not confirm a change in the company’s fundamentals.
• Neutral Sentiment: CEO Michael Farrell’s recent stock sale was made under a pre-arranged 10b5-1 plan, making it more routine than a clear bearish signal, though insider selling can still weigh on sentiment. Insider Selling: ResMed (NYSE:RMD) CEO Sells $1,090,783.05 in Stock

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at $101,893,036.65. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 14,973 shares of company stock worth $3,096,067. Company insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Robert W. Baird set a $225.00 price objective on shares of ResMed in a research report on Friday, May 1st. Royal Bank Of Canada cut their target price on ResMed from $321.00 to $276.00 and set an “outperform” rating for the company in a research note on Wednesday. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company lowered their price target on ResMed from $227.00 to $225.00 and set an “equal weight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus target price of $263.08.

ResMed Price Performance

Shares of ResMed stock traded down $4.28 during midday trading on Friday, hitting $204.17. 1,331,127 shares of the company traded hands, compared to its average volume of 1,566,866. The firm’s fifty day moving average price is $200.46 and its 200-day moving average price is $228.27. The stock has a market cap of $29.62 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.22 and a beta of 0.78. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $2.37 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts forecast that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, May 14th. ResMed’s dividend payout ratio is presently 23.14%.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.