Duncan Williams Asset Management LLC Acquires 159 Shares of ResMed Inc. (NYSE:RMD)

Duncan Williams Asset Management LLC boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,403 shares of the medical equipment provider’s stock after acquiring an additional 159 shares during the period. Duncan Williams Asset Management LLC’s holdings in ResMed were worth $831,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake 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 during the period. Los Angeles Capital Management LLC raised its stake in shares of ResMed by 3,599.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after purchasing an additional 485,540 shares during the period. Marshall Wace LLP acquired a new stake in shares of ResMed in the 2nd quarter valued at about $77,285,000. Greenvale Capital LLP raised its stake in shares of ResMed by 198.3% in the 4th quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock valued at $94,938,000 after purchasing an additional 366,901 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of ResMed in the second quarter valued at about $42,036,000. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RMD. Bank of America lifted their target price on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada lifted their price target on ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a report on Tuesday. Robert W. Baird assumed coverage on ResMed in a report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Tuesday. Finally, StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $213.75.

ResMed Stock Down 0.2 %

Shares of RMD opened at $238.43 on Friday. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The company has a market cap of $35.03 billion, a P/E ratio of 36.63, a P/E/G ratio of 2.36 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. The firm has a 50 day simple moving average of $233.29 and a two-hundred day simple moving average of $212.51.

ResMed (NYSE:RMD) last announced its quarterly earnings results 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. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.60 earnings per share. Research analysts forecast that ResMed Inc. will post 8.97 EPS for the current fiscal year.

ResMed Increases Dividend

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

Insider Activity at ResMed

In related news, insider Justin Leong sold 48,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the sale, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. Insiders sold 104,931 shares of company stock worth $23,119,207 over the last three months. Company insiders own 1.21% 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. 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.