Advisor Resource Council Buys Shares of 864 ResMed Inc. (NYSE:RMD)

Advisor Resource Council bought a new stake in shares of ResMed Inc. (NYSE:RMD) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 864 shares of the medical equipment provider’s stock, valued at approximately $211,000.

Several other institutional investors also recently bought and sold shares of RMD. Bank of New York Mellon Corp raised its holdings in ResMed by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after buying an additional 1,959,642 shares in the last quarter. Marshall Wace LLP bought a new position in ResMed during the second quarter valued at about $77,285,000. Greenvale Capital LLP increased its stake in shares of ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after purchasing an additional 275,000 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after purchasing an additional 241,195 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of ResMed in the second quarter worth about $42,036,000. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RMD. Bank of America lifted their price objective on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Wolfe Research reiterated an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. Finally, 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 research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $225.70.

Insider Activity

In other news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $248.38, for a total value of $3,646,963.54. Following the sale, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $115,290,296.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the sale, the chief executive officer now directly owns 464,169 shares in the company, valued at $115,290,296.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Michael J. Rider sold 882 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total value of $203,742.00. Following the sale, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,260 shares of company stock worth $14,390,487. Company insiders own 0.71% of the company’s stock.

ResMed Trading Up 1.4 %

RMD stock opened at $248.42 on Friday. ResMed Inc. has a 1-year low of $140.81 and a 1-year high of $260.49. The firm has a market cap of $36.47 billion, a P/E ratio of 32.90, a P/E/G ratio of 1.78 and a beta of 0.69. The business’s 50 day moving average is $243.12 and its 200-day moving average is $221.39. 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 (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company posted $1.64 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. ResMed’s dividend payout ratio is currently 28.08%.

ResMed Profile

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.