National Bank of Canada FI Buys 3,328 Shares of ResMed Inc. (NYSE:RMD)

National Bank of Canada FI increased its position in ResMed Inc. (NYSE:RMDGet Rating) by 77.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,604 shares of the medical equipment provider’s stock after acquiring an additional 3,328 shares during the quarter. National Bank of Canada FI’s holdings in ResMed were worth $1,854,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RMD. Allspring Global Investments Holdings LLC bought a new position in shares of ResMed in the fourth quarter worth $9,867,000. Commonwealth Equity Services LLC increased its stake in ResMed by 1.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,691 shares of the medical equipment provider’s stock worth $2,003,000 after acquiring an additional 96 shares during the last quarter. CWM LLC purchased a new stake in shares of ResMed in the 4th quarter valued at about $447,000. Nomura Asset Management Co. Ltd. boosted its position in shares of ResMed by 5.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 30,638 shares of the medical equipment provider’s stock valued at $7,981,000 after acquiring an additional 1,670 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of ResMed by 11.2% during the fourth quarter. Fifth Third Bancorp now owns 6,231 shares of the medical equipment provider’s stock worth $1,623,000 after purchasing an additional 626 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

ResMed Stock Performance

NYSE RMD opened at $241.80 on Friday. The company has a 50-day simple moving average of $217.82 and a two-hundred day simple moving average of $226.12. ResMed Inc. has a 12-month low of $189.40 and a 12-month high of $301.34. The firm has a market cap of $35.37 billion, a price-to-earnings ratio of 45.54, a PEG ratio of 2.31 and a beta of 0.47. The company has a quick ratio of 1.56, a current ratio of 2.55 and a debt-to-equity ratio of 0.20.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada upgraded shares of ResMed from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $233.00 to $244.00 in a research report on Monday, June 6th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Monday, August 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, ResMed has an average rating of “Moderate Buy” and an average target price of $264.80.

Insider Activity

In related news, insider David Pendarvis sold 1,545 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $240.72, for a total transaction of $371,912.40. Following the transaction, the insider now directly owns 105,286 shares in the company, valued at approximately $25,344,445.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Brett Sandercock sold 7,500 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $235.00, for a total transaction of $1,762,500.00. Following the transaction, the chief financial officer now owns 106,426 shares in the company, valued at approximately $25,010,110. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Pendarvis sold 1,545 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $240.72, for a total value of $371,912.40. Following the completion of the sale, the insider now owns 105,286 shares of the company’s stock, valued at approximately $25,344,445.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,160 shares of company stock valued at $6,327,758. Insiders own 1.42% of the company’s stock.

ResMed Profile

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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 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.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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