Intrust Bank NA Purchases 122 Shares of ResMed Inc. (NYSE:RMD)

Intrust Bank NA raised its position in shares of ResMed Inc. (NYSE:RMD) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,500 shares of the medical equipment provider’s stock after purchasing an additional 122 shares during the period. Intrust Bank NA’s holdings in ResMed were worth $1,258,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in RMD. Thrivent Financial for Lutherans lifted its position in shares of ResMed by 12.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock worth $1,697,000 after purchasing an additional 755 shares during the period. Intech Investment Management LLC purchased a new stake in ResMed during the third quarter worth $244,000. Cerity Partners LLC boosted its position in ResMed by 82.0% during the 3rd quarter. Cerity Partners LLC now owns 13,686 shares of the medical equipment provider’s stock valued at $3,341,000 after acquiring an additional 6,167 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of ResMed by 0.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 88,469 shares of the medical equipment provider’s stock valued at $21,593,000 after acquiring an additional 240 shares during the period. Finally, D.A. Davidson & CO. bought a new stake in ResMed during the third quarter valued at about $229,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the subject of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. The Goldman Sachs Group initiated coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. JPMorgan Chase & Co. boosted their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Stifel Nicolaus dropped their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Finally, StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $249.73.

ResMed Stock Down 1.2 %

Shares of NYSE:RMD opened at $219.85 on Friday. The company has a market capitalization of $32.29 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05. The business has a 50-day moving average price of $233.70 and a 200 day moving average price of $238.13. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Sell-side analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. ResMed’s dividend payout ratio is currently 25.03%.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now directly owns 9,725 shares in the company, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock worth $9,164,385 over the last ninety days. Company insiders own 0.71% of the company’s stock.

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.