ResMed Inc. (NYSE:RMD) Shares Purchased by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC raised its stake in ResMed Inc. (NYSE:RMD) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,043 shares of the medical equipment provider’s stock after acquiring an additional 60 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in ResMed were worth $743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. OFI Invest Asset Management acquired a new position in ResMed in the 2nd quarter valued at about $32,000. BOK Financial Private Wealth Inc. acquired a new position in shares of ResMed in the first quarter valued at approximately $35,000. Versant Capital Management Inc raised its position in shares of ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 120 shares during the last quarter. Financial Connections Group Inc. purchased a new position in shares of ResMed during the second quarter valued at approximately $37,000. Finally, Riverview Trust Co acquired a new stake in ResMed during the first quarter worth approximately $42,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Robert W. Baird initiated coverage on ResMed in a research note on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Tuesday, October 1st. Bank of America upped their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada boosted their target price on shares of ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the transaction, the director now owns 87,204 shares in the company, valued at $20,920,239.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the sale, the director now directly owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Justin Leong sold 48,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the transaction, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 123,874 shares of company stock valued at $28,151,142. Corporate insiders own 0.71% of the company’s stock.

ResMed Trading Up 0.2 %

NYSE:RMD opened at $240.00 on Friday. The business’s 50-day moving average is $238.78 and its two-hundred day moving average is $215.88. The firm has a market capitalization of $35.22 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 2.17 and a beta of 0.69. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $255.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69.

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

ResMed Increases Dividend

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

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.