Lazard Asset Management LLC Has $734,000 Stock Holdings in ResMed Inc. $RMD

Lazard Asset Management LLC decreased its position in ResMed Inc. (NYSE:RMD) by 68.0% during the first quarter, HoldingsChannel reports. The firm owned 3,272 shares of the medical equipment provider’s stock after selling 6,948 shares during the quarter. Lazard Asset Management LLC’s holdings in ResMed were worth $734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RMD. Terra Nova Asset Management LLC boosted its holdings in shares of ResMed by 0.6% during the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after buying an additional 46 shares during the period. Kera Capital Partners Inc. raised its holdings in ResMed by 6.6% in the 4th quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock worth $217,000 after acquiring an additional 52 shares during the period. Andina Capital Management LLC raised its holdings in ResMed by 2.9% in the 4th quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock worth $479,000 after acquiring an additional 56 shares during the period. Turtle Creek Wealth Advisors LLC lifted its position in ResMed by 6.2% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 994 shares of the medical equipment provider’s stock worth $223,000 after acquiring an additional 58 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in ResMed by 4.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 1,355 shares of the medical equipment provider’s stock worth $326,000 after acquiring an additional 59 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Evercore set a $255.00 price target on ResMed and gave the company an “outperform” rating in a research report on Monday, April 13th. Mizuho cut their price objective on ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. UBS Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of ResMed in a research report on Tuesday, July 21st. Robert W. Baird set a $225.00 price target on ResMed in a report on Friday, May 1st. Finally, Weiss Ratings cut ResMed from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of “Hold” and an average price target of $246.25.

ResMed Stock Up 0.4%

RMD stock opened at $224.00 on Thursday. The business’s 50-day simple moving average is $199.66 and its 200 day simple moving average is $222.54. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The company has a market cap of $32.49 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.36 and a beta of 0.76. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81.

Insider Activity

In other news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $101,893,036.65. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.65% of the company’s stock.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.