Orin Green Financial LLC, a leading financial services provider, recently invested in ResMed Inc. during the fourth quarter of 2021. The firm bought 2,681 shares of ResMed’s stock valued at $558,000. This investment has encouraged several brokerages to focus on ResMed as a leading medical equipment provider in the market.
ResMed (NYSE: RMD) reported impressive earnings results for the first quarter of 2021 on Thursday, April 27th. The company’s revenue was up by 29.2% compared to the same period last year, with a total revenue of $1.12 billion during the quarter compared to analyst estimates of $1.05 billion. Moreover, ResMed had a net margin of 21.49%, which improved its return on equity to 25.82%. The company also reported an EPS of $1.68 per share for Q1 – surpassing analysts’ consensus estimates by $.10.
Several brokerage firms have expressed optimism about this market leader and its future performance potentiality among investors and analysts alike commented positively about this report.. UBS Group and StockNews.com respectively placed a “buy” rating on the stock while Mizuho initiated coverage with both positive rating and target price.
Resmed offers best-in-class products and services designed specifically for sleep apnea patients that address their unique needs at every stage in their journey- from diagnosis through ongoing management – providing them with unparalleled comfort long-term health benefits.
As an industry visionary uniquely positioned at the intersection of sleep apnea and digital-therapeutic industries it is evident that they are well-deserving of rated “Moderate Buy” with an average expected target price prediction currently standing at $263 but it is projected that EPS will be around $6.48 for fiscal year 2021 according to various resources and analyst reports
In conclusion Orin Green Financials entrance into ResMed has been lauded and the finance community is taking notice due to Resmed’s impressive margins, revenue increase and potential. It is truly a company with promising potential, making it well worth investors’ consideration as they diversify their portfolios.
Updated on: 17/06/2023
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Institutional Investors Show Interest in ResMed Inc. as Hedge Funds Add or Reduce Their Stakes in the Company amidst Bullish Analyst Predictions
ResMed Inc., a medical equipment provider, has been gaining attention from institutional investors lately, as several hedge funds added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC and Compass Wealth Management LLC both bought new stakes in ResMed during the third and fourth quarters, respectively, while Ronald Blue Trust Inc. raised its position by 72.8% in the fourth quarter. Live Oak Investment Partners also purchased a new stake in ResMed in the last quarter. Furthermore, CVA Family Office LLC increased its position by 162.5% in the third quarter and now owns 210 shares of the company’s stock worth $46,000 after acquiring an additional 130 shares.
Currently, institutional investors own 64.73% of the stock. Meanwhile, ResMed opened on Friday at $218.85 with a low of $194.30 and high of $247.65 over the past twelve months.
Several brokerages have commented on RMD with UBS Group initiating coverage on shares of ResMed and issuing a buy rating with a $290 price target on the stock, while StockNews.com upgraded their rating from hold to buy in June this year.
In other news about the company, several insiders sold large amounts of shares recently; David Pendarvis sold 1,500 shares for a total transaction value of $327,345 on April 3rd and another insider Kaushik Ghoshal sold 500 shares valued at $110,000 on June 2nd while Ronald Blue Trust Inc acquired an additional 67 shares.
These developments are worth keeping an eye on as they could indicate growing interest within the healthcare industry towards investing more into medical equipments providers such as ResMed who may see strong revenues due to increased demand in healthcare services amid pandemic concerns globally.
Overall though analysts seem bullish about RMD claiming that it is still very much undervalued so it may be worth keeping a closer eye on this company in the coming weeks.