Greenleaf Trust Raises Holdings in ResMed Inc. (NYSE:RMD)

Greenleaf Trust increased its position in ResMed Inc. (NYSE:RMD) by 5.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,268 shares of the medical equipment provider’s stock after buying an additional 172 shares during the period. Greenleaf Trust’s holdings in ResMed were worth $798,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Commerzbank Aktiengesellschaft FI purchased a new position in shares of ResMed in the 3rd quarter worth $226,000. Lecap Asset Management Ltd. purchased a new position in ResMed in the third quarter valued at about $366,000. Weaver Capital Management LLC raised its position in ResMed by 26.7% in the third quarter. Weaver Capital Management LLC now owns 2,072 shares of the medical equipment provider’s stock valued at $506,000 after purchasing an additional 437 shares during the period. Signaturefd LLC raised its position in ResMed by 1.7% in the third quarter. Signaturefd LLC now owns 4,211 shares of the medical equipment provider’s stock valued at $1,028,000 after purchasing an additional 72 shares during the period. Finally, Telos Capital Management Inc. raised its position in ResMed by 1.6% in the third quarter. Telos Capital Management Inc. now owns 30,377 shares of the medical equipment provider’s stock valued at $7,416,000 after purchasing an additional 479 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the topic of several research reports. Robert W. Baird initiated coverage on ResMed in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $280.00 price objective on the stock. Royal Bank of Canada raised their price objective on ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 1st. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Wolfe Research reissued an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus price target of $218.18.

ResMed Stock Up 0.7 %

NYSE:RMD opened at $239.05 on Friday. The company has a market capitalization of $35.09 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 1.94 and a beta of 0.69. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The stock has a 50-day simple moving average of $239.99 and a 200 day simple moving average of $217.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59.

ResMed (NYSE:RMD) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $1.60 earnings per share. Sell-side analysts predict that ResMed Inc. will post 9.08 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were paid a $0.53 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Thursday, August 15th. ResMed’s payout ratio is presently 30.59%.

Insider Buying and Selling at ResMed

In other ResMed news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $212.16, for a total value of $212,160.00. Following the completion of the transaction, the chief financial officer now directly owns 89,056 shares in the company, valued at $18,894,120.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares in the company, valued at $5,502,777.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $212.16, for a total value of $212,160.00. Following the sale, the chief financial officer now directly owns 89,056 shares in the company, valued at approximately $18,894,120.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 123,874 shares of company stock worth $28,151,142 over the last ninety days. Company 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.