ResMed Inc. (NYSE:RMD) Shares Purchased by Benjamin Edwards Inc.

Benjamin Edwards Inc. raised its holdings in ResMed Inc. (NYSE:RMD) by 8,951.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,024 shares of the medical equipment provider’s stock after purchasing an additional 35,626 shares during the quarter. Benjamin Edwards Inc.’s holdings in ResMed were worth $8,794,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC grew its holdings 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 buying an additional 110 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of ResMed in the 2nd quarter valued at approximately $32,000. Ashton Thomas Securities LLC purchased a new position in shares of ResMed in the 3rd quarter valued at approximately $34,000. Versant Capital Management Inc lifted its holdings 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 worth $35,000 after purchasing an additional 120 shares during the period. Finally, Financial Connections Group Inc. acquired a new stake in shares of ResMed during the second quarter worth $37,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In other news, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the sale, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $115,290,296.22. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,408 shares of company stock valued at $16,398,132 in the last ninety days. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RMD shares. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Robert W. Baird lifted their price objective on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada lifted 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. One 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $225.70.

ResMed Stock Performance

Shares of RMD stock opened at $244.83 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The stock has a market cap of $35.94 billion, a PE ratio of 32.43, a P/E/G ratio of 1.81 and a beta of 0.68. ResMed Inc. has a 1 year low of $159.60 and a 1 year high of $260.49. The stock has a fifty day moving average price of $242.21 and a 200 day moving average price of $225.87.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.64 EPS. Sell-side analysts forecast that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. ResMed’s dividend payout ratio is presently 28.08%.

About ResMed

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.