Virtu Financial LLC Has $929,000 Holdings in ResMed Inc. (NYSE:RMD)

Virtu Financial LLC decreased its position in ResMed Inc. (NYSE:RMD) by 55.6% in the third quarter, HoldingsChannel reports. The firm owned 3,805 shares of the medical equipment provider’s stock after selling 4,761 shares during the period. Virtu Financial LLC’s holdings in ResMed were worth $929,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its position in shares of ResMed by 2,200.0% in 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 period. Ashton Thomas Securities LLC acquired a new stake in ResMed during the 3rd quarter worth about $34,000. OFI Invest Asset Management purchased a new position in ResMed during the 2nd quarter valued at about $32,000. Financial Connections Group Inc. acquired a new position in shares of ResMed in the 2nd quarter valued at about $37,000. Finally, Blue Trust Inc. lifted its position in shares of ResMed by 182.7% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 137 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the completion of the sale, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,196,002.24. This represents a 16.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Witte Jan De sold 796 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,725 shares of company stock valued at $11,253,448. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Stifel Nicolaus assumed coverage on shares of ResMed in a research report on Friday. They set a “hold” rating and a $250.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Bank of America upped 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. Finally, Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $227.91.

ResMed Trading Down 1.6 %

Shares of RMD stock opened at $238.52 on Friday. ResMed Inc. has a 12 month low of $164.12 and a 12 month high of $260.49. The company has a market cap of $35.01 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 1.78 and a beta of 0.68. 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 business’s 50 day moving average is $242.75 and its two-hundred day moving average is $227.45.

ResMed (NYSE:RMD) last announced its 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. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.64 EPS. Equities analysts predict that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. 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.