Hudson Valley Investment Advisors Inc. ADV Boosts Stake in ResMed Inc. (RMD)

Hudson Valley Investment Advisors Inc. ADV boosted its stake in ResMed Inc. (NYSE:RMD) by 0.4% during the second quarter, Holdings Channel reports. The firm owned 58,564 shares of the medical equipment provider’s stock after buying an additional 245 shares during the period. ResMed comprises approximately 1.5% of Hudson Valley Investment Advisors Inc. ADV’s holdings, making the stock its 13th largest position. Hudson Valley Investment Advisors Inc. ADV’s holdings in ResMed were worth $5,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RMD. Toronto Dominion Bank boosted its stake in shares of ResMed by 26.6% in the first quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock valued at $111,000 after buying an additional 324 shares during the period. Creative Planning boosted its stake in shares of ResMed by 97.1% in the second quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock valued at $130,000 after buying an additional 823 shares during the period. Van ECK Associates Corp boosted its stake in shares of ResMed by 7.5% in the first quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock valued at $140,000 after buying an additional 136 shares during the period. Morgan Dempsey Capital Management LLC boosted its stake in shares of ResMed by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,189 shares of the medical equipment provider’s stock valued at $158,000 after buying an additional 50 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of ResMed by 3.0% in the first quarter. Pacer Advisors Inc. now owns 2,699 shares of the medical equipment provider’s stock valued at $194,000 after buying an additional 79 shares during the period. 60.69% of the stock is currently owned by institutional investors.

Shares of ResMed Inc. (RMD) traded up 0.04% during trading on Monday, hitting $77.62. The company had a trading volume of 417,868 shares. ResMed Inc. has a 52-week low of $56.59 and a 52-week high of $79.44. The firm has a market capitalization of $11.01 billion, a P/E ratio of 34.04 and a beta of 0.84. The stock’s 50-day moving average is $72.98 and its 200 day moving average is $69.45.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.01. The firm had revenue of $514.20 million during the quarter, compared to analysts’ expectations of $525.84 million. ResMed had a net margin of 15.96% and a return on equity of 22.53%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. Equities research analysts predict that ResMed Inc. will post $2.80 earnings per share for the current fiscal year.

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RMD has been the topic of several recent research reports. Zacks Investment Research cut ResMed from a “buy” rating to a “hold” rating in a research report on Tuesday, March 28th. William Blair reissued an “outperform” rating on shares of ResMed in a research report on Thursday, April 13th. J P Morgan Chase & Co cut ResMed from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $72.00 to $71.00 in a research report on Thursday, April 20th. Jefferies Group LLC reissued a “sell” rating and issued a $56.00 price objective on shares of ResMed in a research report on Friday, April 28th. Finally, Citigroup Inc. cut ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, April 28th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. ResMed currently has an average rating of “Hold” and an average target price of $64.50.

In other ResMed news, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $68.60, for a total value of $85,750.00. Following the completion of the transaction, the chief financial officer now directly owns 62,783 shares of the company’s stock, valued at $4,306,913.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider James Hollingshead sold 7,140 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $77.43, for a total transaction of $552,850.20. The disclosure for this sale can be found here. Insiders have sold 180,261 shares of company stock valued at $13,560,373 over the last three months. 1.97% of the stock is currently owned by corporate insiders.

ResMed Company Profile

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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