Coastline Trust Co Raises Position in ResMed Inc. (NYSE:RMD)

Coastline Trust Co lifted its stake in ResMed Inc. (NYSE:RMD) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 27,810 shares of the medical equipment provider’s stock after acquiring an additional 200 shares during the quarter. Coastline Trust Co’s holdings in ResMed were worth $3,758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP raised its stake in shares of ResMed by 26.8% during the 1st quarter. First Trust Advisors LP now owns 478,422 shares of the medical equipment provider’s stock worth $49,742,000 after buying an additional 101,152 shares during the period. Nordea Investment Management AB raised its stake in shares of ResMed by 3.0% during the 1st quarter. Nordea Investment Management AB now owns 7,499 shares of the medical equipment provider’s stock worth $780,000 after buying an additional 218 shares during the period. Amundi Pioneer Asset Management Inc. raised its stake in shares of ResMed by 120.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 463,571 shares of the medical equipment provider’s stock worth $48,197,000 after buying an additional 253,153 shares during the period. WINTON GROUP Ltd raised its stake in shares of ResMed by 387.5% during the 2nd quarter. WINTON GROUP Ltd now owns 16,586 shares of the medical equipment provider’s stock worth $2,024,000 after buying an additional 13,184 shares during the period. Finally, Calton & Associates Inc. raised its stake in shares of ResMed by 14.6% during the 2nd quarter. Calton & Associates Inc. now owns 2,901 shares of the medical equipment provider’s stock worth $354,000 after buying an additional 369 shares during the period. 66.46% of the stock is owned by institutional investors.

NYSE RMD opened at $131.21 on Friday. The business has a fifty day moving average price of $134.06 and a 200 day moving average price of $121.86. ResMed Inc. has a one year low of $90.64 and a one year high of $141.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.43 and a current ratio of 2.06. The company has a market cap of $18.92 billion, a P/E ratio of 36.05, a P/E/G ratio of 3.17 and a beta of 0.41.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.03. ResMed had a return on equity of 26.49% and a net margin of 15.52%. The firm had revenue of $705.00 million during the quarter, compared to the consensus estimate of $701.56 million. During the same period in the prior year, the company earned $0.95 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts predict that ResMed Inc. will post 3.92 EPS for the current fiscal year.

Several research firms recently commented on RMD. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a research note on Monday, July 8th. Goldman Sachs Group raised ResMed from a “neutral” rating to a “buy” rating in a research note on Monday, July 29th. UBS Group raised ResMed from a “neutral” rating to a “buy” rating and increased their price objective for the company from $122.00 to $140.00 in a research note on Monday, July 29th. Finally, ValuEngine downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $121.50.

In other ResMed news, insider David Pendarvis sold 4,367 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $128.56, for a total value of $561,421.52. Following the completion of the sale, the insider now directly owns 122,250 shares in the company, valued at approximately $15,716,460. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Richard Mchale sold 12,306 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $127.06, for a total value of $1,563,600.36. Following the completion of the sale, the insider now owns 11,215 shares of the company’s stock, valued at $1,424,977.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,668 shares of company stock valued at $9,581,078. 1.22% of the stock is owned by corporate insiders.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, 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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