Hengehold Capital Management LLC Acquires Shares of 872 ResMed Inc. (NYSE:RMD)

Hengehold Capital Management LLC bought a new position in shares of ResMed Inc. (NYSE:RMD) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 872 shares of the medical equipment provider’s stock, valued at approximately $213,000.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in ResMed by 51.4% during the 2nd 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 in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of 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 acquiring an additional 241,195 shares during the period. Greenvale Capital LLP boosted its holdings in ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after acquiring an additional 275,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in ResMed by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after purchasing an additional 107,279 shares during the period. Finally, Congress Asset Management Co. MA raised its holdings in ResMed by 1.1% during the 1st quarter. Congress Asset Management Co. MA now owns 584,210 shares of the medical equipment provider’s stock worth $115,691,000 after purchasing an additional 6,231 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Robert W. Baird began coverage on shares of ResMed in a research report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price target for the company. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Baird R W raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Tuesday, October 1st. Finally, StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $218.18.

ResMed Price Performance

NYSE RMD opened at $239.69 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $255.18. The business has a 50 day simple moving average of $238.31 and a 200 day simple moving average of $215.53. The stock has a market cap of $35.18 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.17 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted $1.60 earnings per share. Analysts anticipate that ResMed Inc. will post 9.02 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were given a dividend of $0.53 per share. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Thursday, August 15th. ResMed’s dividend payout ratio is currently 30.59%.

Insider Transactions at ResMed

In other ResMed news, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the sale, the insider now owns 18,741 shares in the company, valued at approximately $4,068,108.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other ResMed news, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Michael J. Rider sold 882 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the transaction, the general counsel now owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,874 shares of company stock valued at $28,151,142 over the last three months. Company insiders own 0.71% of the company’s stock.

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.