Massmutual Trust Co. FSB ADV Grows Position in ResMed Inc. (NYSE:RMD)

Massmutual Trust Co. FSB ADV increased its holdings in ResMed Inc. (NYSE:RMD) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,570 shares of the medical equipment provider’s stock after acquiring an additional 2,454 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in ResMed were worth $16,007,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RMD. OFI Invest Asset Management bought a new position in ResMed in the second quarter worth about $32,000. BOK Financial Private Wealth Inc. bought a new position in ResMed in the first quarter worth about $35,000. Versant Capital Management Inc raised its holdings in ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares in the last quarter. Financial Connections Group Inc. bought a new position in ResMed in the second quarter worth about $37,000. Finally, Riverview Trust Co acquired a new position in shares of ResMed during the first quarter valued at about $42,000. 54.98% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed 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 sale, the director now owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the sale, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the sale, the director now directly owns 87,204 shares in the company, valued at approximately $20,920,239.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,931 shares of company stock valued at $23,119,207. 1.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RMD. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada increased their price target on shares of ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a report on Tuesday. Bank of America raised their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Robert W. Baird started 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. Finally, StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued 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 $213.75.

ResMed Price Performance

Shares of NYSE RMD opened at $238.86 on Thursday. The stock has a market capitalization of $35.10 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.36 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 firm’s 50 day simple moving average is $232.69 and its 200-day simple moving average is $212.33. 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 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 analysts’ expectations of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. Analysts expect that ResMed Inc. will post 8.97 EPS for the current 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 paid 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 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio (DPR) is presently 32.57%.

ResMed Company 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.