Brooklyn Investment Group Acquires New Holdings in ResMed Inc. (NYSE:RMD)

Brooklyn Investment Group bought a new stake in ResMed Inc. (NYSE:RMD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 843 shares of the medical equipment provider’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RMD. OFI Invest Asset Management acquired a new stake in shares of ResMed during the 2nd quarter valued at $32,000. Ashton Thomas Securities LLC bought a new position in ResMed in the third quarter valued at about $34,000. Versant Capital Management Inc boosted its stake in shares of ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares in the last quarter. Financial Connections Group Inc. bought a new stake in shares of ResMed during the second quarter worth about $37,000. Finally, Blue Trust Inc. increased its stake in shares of 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 buying an additional 137 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $249.99 on Wednesday. The firm has a market cap of $36.70 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 1.82 and a beta of 0.69. ResMed Inc. has a 52-week low of $151.95 and a 52-week high of $260.49. The business’s 50 day moving average price is $241.80 and its two-hundred day moving average price is $225.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The company 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%. ResMed’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.64 EPS. On average, equities analysts anticipate that ResMed Inc. will post 9.28 EPS for the current 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 given a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Analysts Set New Price Targets

RMD has been the topic of several recent research reports. Wolfe Research reiterated an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. KeyCorp raised their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Bank of America upped their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.70.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the sale, the director now owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. This trade represents a 2.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $246.42, for a total transaction of $246,420.00. Following the transaction, the chief financial officer now owns 96,812 shares in the company, valued at approximately $23,856,413.04. The trade was a 1.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,334 shares of company stock worth $16,379,713 in the last three months. Company 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.