ResMed Inc. (NYSE:RMD) Stock Position Raised by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 15.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,497 shares of the medical equipment provider’s stock after acquiring an additional 202 shares during the quarter. Summit Trail Advisors LLC’s holdings in ResMed were worth $365,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of ResMed during the 3rd quarter worth $34,000. OFI Invest Asset Management bought a new stake in shares of ResMed during the 2nd quarter worth $32,000. Versant Capital Management Inc boosted its stake in shares of ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 120 shares in the last quarter. Financial Connections Group Inc. bought a new stake in shares of ResMed during the 2nd quarter worth $37,000. Finally, Blue Trust Inc. boosted its stake in shares of ResMed by 182.7% during the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 137 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

ResMed Price Performance

Shares of NYSE:RMD opened at $249.33 on Thursday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1 year low of $151.95 and a 1 year high of $260.49. The business has a fifty day simple moving average of $242.03 and a 200 day simple moving average of $225.21. The firm has a market cap of $36.60 billion, a price-to-earnings ratio of 33.02, a P/E/G ratio of 1.82 and a beta of 0.69.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $1.64 earnings per share. ResMed’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.85%. ResMed’s dividend payout ratio (DPR) is currently 28.08%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Royal Bank of Canada raised their target price on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Robert W. Baird raised their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. KeyCorp raised their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Finally, Bank of America raised 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $225.70.

Insider Buying and Selling at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares in the company, valued at $5,502,777.28. This trade represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the transaction, the chief executive officer now owns 464,169 shares in the company, valued at approximately $115,290,296.22. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,334 shares of company stock worth $16,379,713 over the last three months. Corporate insiders own 0.71% of the company’s stock.

ResMed Company 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.