Tandem Investment Advisors Inc. lifted its position in ResMed Inc. (NYSE:RMD) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,148 shares of the medical equipment provider’s stock after buying an additional 1,150 shares during the quarter. ResMed comprises approximately 1.8% of Tandem Investment Advisors Inc.’s holdings, making the stock its 27th biggest position. Tandem Investment Advisors Inc.’s holdings in ResMed were worth $13,660,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of ResMed by 3.8% in the first quarter. Wellington Management Group LLP now owns 1,790 shares of the medical equipment provider’s stock valued at $264,000 after buying an additional 66 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of ResMed by 57.8% in the first quarter. Mercer Global Advisors Inc. ADV now owns 2,766 shares of the medical equipment provider’s stock valued at $407,000 after buying an additional 1,013 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of ResMed by 6.2% in the first quarter. Wells Fargo & Company MN now owns 387,665 shares of the medical equipment provider’s stock valued at $57,098,000 after buying an additional 22,510 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of ResMed in the first quarter valued at $489,000. Finally, Advisor Group Holdings Inc. bought a new position in shares of ResMed in the first quarter valued at $5,523,000. 67.15% of the stock is owned by institutional investors and hedge funds.
Shares of RMD traded down $1.95 during midday trading on Friday, reaching $202.51. 659,463 shares of the stock were exchanged, compared to its average volume of 450,715. ResMed Inc. has a twelve month low of $108.85 and a twelve month high of $208.99. The company has a quick ratio of 2.01, a current ratio of 2.66 and a debt-to-equity ratio of 0.65. The company has a market cap of $29.30 billion, a P/E ratio of 57.37, a PEG ratio of 3.17 and a beta of 0.50. The stock’s 50 day simple moving average is $188.27 and its 200 day simple moving average is $166.97.
In related news, insider David Pendarvis sold 5,919 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $160.61, for a total value of $950,650.59. Following the transaction, the insider now owns 136,322 shares in the company, valued at $21,894,676.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 2,500 shares of the firm’s stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $196.98, for a total value of $492,450.00. Following the completion of the transaction, the chief financial officer now owns 84,796 shares in the company, valued at approximately $16,703,116.08. The disclosure for this sale can be found here. Insiders have sold 26,546 shares of company stock valued at $4,602,855 in the last three months. Insiders own 1.22% of the company’s stock.
Several equities analysts recently weighed in on RMD shares. Oppenheimer raised shares of ResMed from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Thursday, April 30th. Needham & Company LLC started coverage on ResMed in a report on Thursday, April 30th. They set a “hold” rating for the company. JPMorgan Chase & Co. downgraded ResMed from a “neutral” rating to an “underweight” rating in a report on Friday, May 1st. Finally, Morgan Stanley raised ResMed from an “equal weight” rating to an “overweight” rating and set a $176.00 price target for the company in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $183.33.
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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