ResMed Inc. (NYSE:RMD) Position Raised by Captrust Financial Advisors

Captrust Financial Advisors lifted its position in shares of ResMed Inc. (NYSE:RMD) by 901.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 48,537 shares of the medical equipment provider’s stock after acquiring an additional 43,689 shares during the period. Captrust Financial Advisors’ holdings in ResMed were worth $11,849,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its position in ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after purchasing an additional 1,959,642 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in ResMed by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after buying an additional 13,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in ResMed by 0.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after acquiring an additional 2,406 shares during the period. Los Angeles Capital Management LLC increased its position in ResMed by 48.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after acquiring an additional 241,195 shares during the period. Finally, Greenvale Capital LLP raised its stake in ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after acquiring an additional 275,000 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.1 %

NYSE:RMD opened at $249.02 on Monday. The stock has a fifty day simple moving average of $242.24 and a 200 day simple moving average of $225.70. The firm has a market capitalization of $36.56 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 1.81 and a beta of 0.69. ResMed Inc. has a 1-year low of $156.39 and a 1-year high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $1.64 earnings per share. Sell-side analysts forecast that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the transaction, the director now owns 87,204 shares of the company’s stock, valued at $20,920,239.60. The trade was a 2.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at $115,290,296.22. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,334 shares of company stock worth $16,379,713. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RMD has been the subject of several recent analyst reports. Robert W. Baird raised their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada raised their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Bank of America increased their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Wolfe Research reissued an “underperform” rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

ResMed Company 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.