2,000 Shares in ResMed Inc. (NYSE:RMD) Acquired by Cumberland Partners Ltd

Cumberland Partners Ltd bought a new stake in shares of ResMed Inc. (NYSE:RMD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,000 shares of the medical equipment provider’s stock, valued at approximately $488,000.

Several other hedge funds have also made changes to their positions in RMD. Bank of New York Mellon Corp raised its holdings in shares of ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after purchasing an additional 1,959,642 shares in the last quarter. Marshall Wace LLP bought a new position in ResMed in the second quarter worth approximately $77,285,000. Greenvale Capital LLP lifted its holdings in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after buying an additional 275,000 shares during the period. Los Angeles Capital Management LLC boosted its position in ResMed by 48.3% during the 2nd 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 in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of ResMed in the 2nd quarter worth $42,036,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In other news, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total value of $497,480.00. Following the sale, the director now directly owns 83,204 shares of the company’s stock, valued at approximately $20,696,162.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,260 shares of company stock worth $14,887,967. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RMD shares. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Bank of America increased their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. KeyCorp boosted their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird boosted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.70.

ResMed Trading Down 0.6 %

Shares of RMD stock opened at $247.11 on Wednesday. ResMed Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $260.49. The firm has a market capitalization of $36.28 billion, a P/E ratio of 32.73, a PEG ratio of 1.82 and a beta of 0.69. The stock’s fifty day moving average is $243.44 and its two-hundred day moving average is $223.08. 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 posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. ResMed’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.64 earnings per share. Research analysts expect that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s payout ratio is presently 28.08%.

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.