Intrust Bank NA Raises Stock Holdings in ResMed Inc. (NYSE:RMD)

Intrust Bank NA boosted its position in ResMed Inc. (NYSE:RMD) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,695 shares of the medical equipment provider’s stock after purchasing an additional 132 shares during the quarter. Intrust Bank NA’s holdings in ResMed were worth $980,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RMD. EverSource Wealth Advisors LLC boosted its position in shares of ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 128 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of ResMed during the fourth quarter worth about $34,000. MV Capital Management Inc. increased its holdings in shares of ResMed by 39.0% during the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 60 shares in the last quarter. Operose Advisors LLC acquired a new position in shares of ResMed during the third quarter valued at about $32,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of ResMed in the 4th quarter valued at approximately $45,000. 54.98% of the stock is currently owned by institutional investors.

ResMed Price Performance

RMD stock traded down $4.21 during mid-day trading on Tuesday, reaching $212.98. The company’s stock had a trading volume of 140,456 shares, compared to its average volume of 1,057,321. The stock has a market cap of $31.33 billion, a PE ratio of 33.34, a P/E/G ratio of 2.65 and a beta of 0.67. The company’s 50 day moving average is $187.80 and its two-hundred day moving average is $172.88. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $240.09. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the firm earned $1.68 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts expect that ResMed Inc. will post 7.52 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s payout ratio is currently 29.49%.

Analysts Set New Price Targets

A number of research analysts have issued reports on RMD shares. Royal Bank of Canada raised their price target on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday. Oppenheimer reduced their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday. KeyCorp increased their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. increased their price target on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Finally, Mizuho reissued a “buy” rating and issued a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.80.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares in the company, valued at $1,158,696. The disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock valued at $2,046,617 in the last ninety days. Company insiders own 1.21% of the company’s stock.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.