Pacer Advisors Inc. Acquires 15,345 Shares of ResMed Inc. (NYSE:RMD)

Pacer Advisors Inc. boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 52.3% in the fourth quarter, HoldingsChannel reports. The firm owned 44,692 shares of the medical equipment provider’s stock after purchasing an additional 15,345 shares during the quarter. Pacer Advisors Inc.’s holdings in ResMed were worth $10,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV grew its stake in ResMed by 2.1% in the 4th quarter. KBC Group NV now owns 74,253 shares of the medical equipment provider’s stock valued at $16,981,000 after buying an additional 1,522 shares during the last quarter. Blue Trust Inc. grew its position in shares of ResMed by 43.1% in the fourth quarter. Blue Trust Inc. now owns 1,394 shares of the medical equipment provider’s stock valued at $340,000 after purchasing an additional 420 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in ResMed during the 4th quarter worth $236,000. Linden Thomas Advisory Services LLC increased its position in ResMed by 3.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 15,377 shares of the medical equipment provider’s stock worth $3,517,000 after acquiring an additional 462 shares during the period. Finally, Impact Partnership Wealth LLC bought a new position in shares of ResMed during the fourth quarter worth approximately $505,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

ResMed stock opened at $250.03 on Wednesday. The business has a 50 day moving average of $239.56 and a 200-day moving average of $235.40. The company has a market capitalization of $36.70 billion, a P/E ratio of 33.12, a P/E/G ratio of 1.78 and a beta of 0.70. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91.

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total value of $497,480.00. Following the sale, the director now owns 83,204 shares of the company’s stock, valued at $20,696,162.96. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,099 shares of company stock worth $2,719,385. 0.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RMD has been the subject of several recent analyst reports. KeyCorp upped their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Piper Sandler assumed coverage on ResMed in a research note on Friday, January 10th. They set a “neutral” rating and a $252.00 target price for the company. Stifel Nicolaus started coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $238.40.

ResMed Company Profile

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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.