ResMed Inc. (NYSE:RMD) Shares Bought by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC raised its stake in ResMed Inc. (NYSE:RMD) by 9.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,125 shares of the medical equipment provider’s stock after acquiring an additional 533 shares during the period. Lake Street Advisors Group LLC’s holdings in ResMed were worth $1,495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in ResMed in the second quarter valued at approximately $32,000. BOK Financial Private Wealth Inc. acquired a new position in ResMed in the first quarter valued at approximately $35,000. Versant Capital Management Inc boosted its stake in ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares during the period. Financial Connections Group Inc. acquired a new position in ResMed in the second quarter valued at approximately $37,000. Finally, Blue Trust Inc. boosted its stake in ResMed by 182.7% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 137 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of NYSE:RMD traded up $18.80 on Friday, reaching $257.85. 843,489 shares of the company traded hands, compared to its average volume of 1,033,113. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $260.49. The company’s 50 day moving average is $239.99 and its 200-day moving average is $217.20. The stock has a market capitalization of $37.84 billion, a PE ratio of 36.80, a P/E/G ratio of 1.94 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The company 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 25.00% and a net margin of 21.79%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 EPS. As a group, analysts anticipate that ResMed Inc. will post 9.08 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were issued a $0.53 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.82%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is presently 30.59%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RMD. Robert W. Baird boosted their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday. Wolfe Research reiterated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday. Royal Bank of Canada boosted their price objective on ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 1st. Finally, KeyCorp boosted their price objective on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.45.

Insider Activity

In other news, insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the completion of the sale, the insider now owns 21,788 shares in the company, valued at $5,196,002.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the sale, the director now directly owns 87,204 shares in the company, valued at approximately $20,920,239.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the sale, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,196,002.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,874 shares of company stock worth $28,151,142 over the last quarter. Corporate insiders own 0.71% of the company’s stock.

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.