Hendershot Investments Inc. Purchases 234 Shares of ResMed Inc. (NYSE:RMD)

Hendershot Investments Inc. grew its position in ResMed Inc. (NYSE:RMD) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,542 shares of the medical equipment provider’s stock after acquiring an additional 234 shares during the quarter. ResMed accounts for 1.5% of Hendershot Investments Inc.’s portfolio, making the stock its 22nd biggest holding. Hendershot Investments Inc.’s holdings in ResMed were worth $10,874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Versor Investments LP raised its stake in ResMed by 327.3% during the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock valued at $900,000 after purchasing an additional 3,600 shares in the last quarter. Assenagon Asset Management S.A. raised its position in ResMed by 245.2% during the second quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider’s stock valued at $6,414,000 after purchasing an additional 23,801 shares during the period. Retireful LLC bought a new stake in shares of ResMed in the 3rd quarter valued at approximately $742,000. Addenda Capital Inc. increased its position in shares of ResMed by 17.4% during the 2nd quarter. Addenda Capital Inc. now owns 58,986 shares of the medical equipment provider’s stock valued at $11,291,000 after purchasing an additional 8,747 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in ResMed by 5.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock valued at $14,369,000 after buying an additional 2,878 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RMD shares. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Wolfe Research reissued an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Baird R W raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, KeyCorp boosted their target price on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average price target of $225.70.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now directly owns 81,218 shares of the company’s stock, valued at $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction dated 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 sale, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,408 shares of company stock valued at $16,409,632 over the last 90 days. Insiders own 0.71% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $241.28 on Friday. The stock has a market capitalization of $35.42 billion, a PE ratio of 31.96, a PEG ratio of 1.79 and a beta of 0.68. The company has a 50 day moving average price of $242.30 and a 200-day moving average price of $226.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a fifty-two week low of $162.05 and a fifty-two week high of $260.49.

ResMed (NYSE:RMD) last released its quarterly earnings results 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. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company posted $1.64 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts predict that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Thursday, November 7th. ResMed’s payout ratio is currently 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.