2,828 Shares in ResMed Inc. (NYSE:RMD) Bought by American Trust

American Trust bought a new position in ResMed Inc. (NYSE:RMD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,828 shares of the medical equipment provider’s stock, valued at approximately $690,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RMD. Versor Investments LP boosted its position in shares of ResMed by 327.3% in the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock valued at $900,000 after acquiring an additional 3,600 shares during the period. Assenagon Asset Management S.A. boosted its holdings in ResMed by 245.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider’s stock valued at $6,414,000 after purchasing an additional 23,801 shares during the period. Retireful LLC acquired a new stake in ResMed in the 3rd quarter worth $742,000. Asset Management One Co. Ltd. grew its position in ResMed by 5.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after purchasing an additional 2,878 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of ResMed by 284.3% during the 3rd quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock worth $2,004,000 after purchasing an additional 6,072 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE RMD opened at $238.52 on Friday. The firm has a market cap of $35.01 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.78 and a beta of 0.68. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1-year low of $164.12 and a 1-year high of $260.49. The company has a 50 day moving average of $242.75 and a 200-day moving average of $227.45.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. On average, equities analysts forecast that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s dividend payout ratio is currently 28.08%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RMD. Bank of America increased their target price on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada lifted their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Baird R W raised ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $227.91.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Monday, October 7th. The stock was sold at an average price of $231.91, for a total value of $3,405,134.53. Following the completion of the sale, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at approximately $107,645,432.79. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $233.47, for a total value of $233,470.00. Following the transaction, the chief financial officer now directly owns 95,812 shares in the company, valued at $22,369,227.64. This trade represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,725 shares of company stock worth $11,253,448. 0.71% of the stock is currently owned by corporate insiders.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.