ResMed Inc. $RMD Shares Acquired by Ethic Inc.

Ethic Inc. boosted its position in shares of ResMed Inc. (NYSE:RMD) by 98.1% in the third quarter, Holdings Channel.com reports. The firm owned 17,736 shares of the medical equipment provider’s stock after acquiring an additional 8,784 shares during the period. Ethic Inc.’s holdings in ResMed were worth $4,855,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMD. Institute for Wealth Management LLC. boosted its position in ResMed by 6.2% in the 3rd quarter. Institute for Wealth Management LLC. now owns 1,069 shares of the medical equipment provider’s stock valued at $293,000 after buying an additional 62 shares during the last quarter. Valley National Advisers Inc. grew its stake in ResMed by 2.5% during the 3rd quarter. Valley National Advisers Inc. now owns 7,655 shares of the medical equipment provider’s stock valued at $2,094,000 after purchasing an additional 184 shares in the last quarter. Perigon Wealth Management LLC grew its stake in ResMed by 9.4% during the 3rd quarter. Perigon Wealth Management LLC now owns 24,482 shares of the medical equipment provider’s stock valued at $6,701,000 after purchasing an additional 2,110 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in ResMed by 2.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 1,970 shares of the medical equipment provider’s stock worth $539,000 after purchasing an additional 55 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of ResMed by 26.7% during the 3rd quarter. Pacer Advisors Inc. now owns 130,199 shares of the medical equipment provider’s stock valued at $35,639,000 after buying an additional 27,453 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their price target on shares of ResMed from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Royal Bank Of Canada raised their price objective on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Morgan Stanley set a $305.00 target price on shares of ResMed in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of ResMed in a research note on Monday. Finally, Wells Fargo & Company assumed coverage on ResMed in a report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average target price of $296.09.

ResMed Price Performance

RMD opened at $243.19 on Wednesday. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $250.19 and its 200 day moving average price is $263.62. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The firm has a market cap of $35.49 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 1.64 and a beta of 0.87.

ResMed (NYSE:RMD) last posted its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.49 by $0.06. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 earnings per share. As a group, sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, November 13th. ResMed’s dividend payout ratio is presently 24.56%.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $251.47, for a total value of $502,940.00. Following the sale, the director directly owned 68,773 shares in the company, valued at approximately $17,294,346.31. This trade represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Witte Jan De sold 2,055 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the transaction, the director directly owned 4,261 shares of the company’s stock, valued at approximately $1,086,555. This trade represents a 32.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,562 shares of company stock valued at $5,919,030 over the last three months. Company 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.