Hilltop Holdings Inc. Acquires 186 Shares of ResMed Inc. (NYSE:RMD)

Hilltop Holdings Inc. raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,433 shares of the medical equipment provider’s stock after purchasing an additional 186 shares during the quarter. Hilltop Holdings Inc.’s holdings in ResMed were worth $1,326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RMD. True Wealth Design LLC lifted its position in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of ResMed during the second quarter valued at $32,000. Ashton Thomas Securities LLC purchased a new position in shares of ResMed during the third quarter valued at $34,000. Financial Connections Group Inc. purchased a new position in shares of ResMed during the second quarter valued at $37,000. Finally, Blue Trust Inc. increased its stake in shares of ResMed by 182.7% during 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. 54.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $246.42, for a total value 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. This represents a 1.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the chief executive officer now owns 464,169 shares in the company, valued at approximately $115,290,296.22. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,408 shares of company stock worth $15,918,332. 0.71% of the stock is owned by company insiders.

ResMed Stock Performance

RMD opened at $246.91 on Wednesday. ResMed Inc. has a 52-week low of $159.60 and a 52-week 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. The company has a market cap of $36.25 billion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 1.78 and a beta of 0.68. The firm’s 50-day moving average price is $242.21 and its 200-day moving average price is $226.07.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Announces Dividend

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 issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. ResMed’s dividend payout ratio (DPR) is currently 28.08%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RMD shares. Royal Bank of Canada raised 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. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Wolfe Research reiterated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Robert W. Baird boosted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, KeyCorp boosted their target price on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company 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.