True Wealth Design LLC Boosts Stock Position in ResMed Inc. (NYSE:RMD)

True Wealth Design LLC grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 2,200.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115 shares of the medical equipment provider’s stock after purchasing an additional 110 shares during the quarter. True Wealth Design LLC’s holdings in ResMed were worth $28,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in ResMed by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after buying an additional 1,959,642 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of ResMed during the 2nd quarter worth approximately $77,285,000. Greenvale Capital LLP raised its holdings in shares of ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after purchasing an additional 275,000 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in ResMed by 726.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after purchasing an additional 249,454 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after purchasing an additional 241,195 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Justin Leong sold 6,160 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the transaction, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the sale, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The trade was a 18.67 % 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 quarter. Corporate insiders own 0.71% of the company’s stock.

ResMed Stock Down 1.7 %

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

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 25.53% and a net margin of 23.15%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 EPS. Equities research analysts expect that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given 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 yield of 0.87%. ResMed’s payout ratio is presently 28.08%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Robert W. Baird increased their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Bank of America lifted their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada raised their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

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.