6,068 Shares in ResMed Inc. (NYSE:RMD) Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,068 shares of the medical equipment provider’s stock, valued at approximately $1,162,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RMD. Greenvale Capital LLP lifted its position in ResMed by 198.3% during the 4th quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock worth $94,938,000 after buying an additional 366,901 shares in the last quarter. Virtu Financial LLC bought a new stake in ResMed during the 4th quarter worth about $1,293,000. Pineridge Advisors LLC acquired a new position in ResMed during the 4th quarter valued at about $223,000. Goldman Sachs Group Inc. boosted its stake in shares of ResMed by 15.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock valued at $120,225,000 after purchasing an additional 95,689 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its position in shares of ResMed by 9.2% during the 4th quarter. Congress Asset Management Co. MA now owns 577,979 shares of the medical equipment provider’s stock worth $99,424,000 after buying an additional 48,523 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RMD. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Royal Bank of Canada increased their target price on ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 1st. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Finally, Bank of America increased their price target on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.18.

ResMed Stock Up 0.4 %

Shares of RMD stock opened at $237.93 on Friday. The firm has a fifty day moving average of $235.54 and a 200-day moving average of $213.84. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $255.18. The company has a market capitalization of $34.92 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 2.11 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts predict that ResMed Inc. will post 9.02 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were issued a dividend of $0.53 per share. This is a boost from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 annualized dividend and a yield of 0.89%. ResMed’s dividend payout ratio is presently 32.57%.

Insider Buying and Selling

In related news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $212.16, for a total transaction of $212,160.00. Following the completion of the transaction, the chief financial officer now owns 89,056 shares in the company, valued at approximately $18,894,120.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $214.25, for a total value of $3,145,832.75. Following the completion of the sale, the chief executive officer now owns 440,799 shares in the company, valued at $94,441,185.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $212.16, for a total transaction of $212,160.00. Following the completion of the sale, the chief financial officer now owns 89,056 shares of the company’s stock, valued at approximately $18,894,120.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,614 shares of company stock worth $27,135,217. 1.21% of the stock is owned by insiders.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.