Advisor Resource Council Makes New $211,000 Investment in ResMed Inc. (NYSE:RMD)

Advisor Resource Council acquired a new position in shares of ResMed Inc. (NYSE:RMD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 864 shares of the medical equipment provider’s stock, valued at approximately $211,000.

Several other large investors have also recently bought and sold shares of RMD. OFI Invest Asset Management acquired a new position in ResMed during the 2nd quarter worth $32,000. Versant Capital Management Inc lifted its stake in shares of ResMed by 196.7% in the 2nd 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 during the period. Financial Connections Group Inc. acquired a new position in shares of ResMed in the 2nd quarter valued at $37,000. Blue Trust Inc. lifted its stake in shares of ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 137 shares during the period. Finally, Rothschild Investment LLC acquired a new position in shares of ResMed in the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on RMD. Bank of America increased 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. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Baird R W raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Royal Bank of Canada increased their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.70.

ResMed Price Performance

RMD opened at $248.42 on Friday. 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 Inc. has a 12 month low of $140.81 and a 12 month high of $260.49. The company has a fifty day simple moving average of $243.12 and a 200 day simple moving average of $221.39. The stock has a market cap of $36.47 billion, a P/E ratio of 32.90, a P/E/G ratio of 1.78 and a beta of 0.69.

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, topping analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 EPS. On average, research analysts expect that ResMed Inc. will post 9.22 EPS for the current year.

ResMed Announces Dividend

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

Insiders Place Their Bets

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares in the company, valued at approximately $5,502,777.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $233.47, for a total value of $233,470.00. Following the completion of the transaction, the chief financial officer now owns 95,812 shares in the company, valued at $22,369,227.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,260 shares of company stock worth $14,390,487. Corporate insiders own 0.71% of the company’s stock.

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.