CHICAGO TRUST Co NA Buys New Position in ResMed Inc. (NYSE:RMD)

CHICAGO TRUST Co NA acquired a new stake in ResMed Inc. (NYSE:RMD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 960 shares of the medical equipment provider’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also modified their holdings of RMD. OFI Invest Asset Management bought a new position in ResMed during the second quarter valued at about $32,000. BOK Financial Private Wealth Inc. bought a new stake in shares of ResMed during the first quarter worth $35,000. Versant Capital Management Inc grew its holdings in ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in shares of ResMed in the second quarter valued at approximately $37,000. Finally, Riverview Trust Co bought a new stake in shares of ResMed during the first quarter worth $42,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity

In related news, insider Justin Leong sold 48,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the transaction, the director now owns 87,204 shares in the company, valued at $20,920,239.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,614 shares of company stock valued at $27,135,217. 1.21% of the stock is owned by company insiders.

ResMed Stock Performance

NYSE RMD opened at $240.71 on Tuesday. The stock has a market cap of $35.36 billion, a PE ratio of 36.98, a P/E/G ratio of 2.14 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The firm has a 50-day moving average of $236.85 and a 200-day moving average of $214.91. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $255.18.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.60 earnings per share. On average, sell-side analysts anticipate that ResMed Inc. will post 9.02 EPS for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. This is an increase from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio (DPR) is currently 32.57%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RMD. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Robert W. Baird initiated coverage on ResMed in a report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 target price for the company. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Bank of America raised their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $218.18.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.