Coldstream Capital Management Inc. Increases Stock Position in ResMed Inc. (NYSE:RMD)

Coldstream Capital Management Inc. grew its position in ResMed Inc. (NYSE:RMD) by 10.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,025 shares of the medical equipment provider’s stock after acquiring an additional 278 shares during the period. Coldstream Capital Management Inc.’s holdings in ResMed were worth $736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. UMB Bank n.a. grew its stake in shares of ResMed by 1.9% during the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock worth $602,000 after purchasing an additional 47 shares in the last quarter. Ascent Group LLC lifted its holdings in shares of ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after buying an additional 48 shares during the period. Inspire Advisors LLC boosted its position in shares of ResMed by 1.9% during the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock worth $586,000 after purchasing an additional 56 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after buying an additional 57 shares during the period. Finally, Moss Adams Wealth Advisors LLC grew its holdings in shares of ResMed by 2.0% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 3,043 shares of the medical equipment provider’s stock worth $743,000 after acquiring an additional 60 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the sale, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $107,645,432.79. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total value of $474,400.00. Following the completion of the sale, the director now directly owns 85,204 shares in the company, valued at $20,210,388.80. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,725 shares of company stock valued at $11,253,448. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

RMD opened at $238.52 on Friday. The company has a fifty day moving average price of $242.65 and a two-hundred day moving average price of $227.27. The firm has a market capitalization of $35.01 billion, a PE ratio of 31.59, a P/E/G ratio of 1.78 and a beta of 0.68. ResMed Inc. has a 52 week low of $164.12 and a 52 week high of $260.49. 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 (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during 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 firm’s revenue was up 11.1% on a year-over-year basis. As a group, analysts anticipate that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s dividend payout ratio is currently 28.08%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RMD shares. Robert W. Baird raised their price target on 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 increased their target price on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Wolfe Research restated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. Finally, Stifel Nicolaus began coverage on shares of ResMed in a report on Friday. They set a “hold” rating and a $250.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $227.91.

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.