ResMed Inc. (NYSE:RMD) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its holdings in ResMed Inc. (NYSE:RMD) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,919 shares of the medical equipment provider’s stock after purchasing an additional 57 shares during the period. Concurrent Investment Advisors LLC’s holdings in ResMed were worth $469,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of ResMed in the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc increased its holdings in shares of ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares during the last quarter. Financial Connections Group Inc. bought a new stake in shares of ResMed in the 2nd quarter valued at approximately $37,000. Blue Trust Inc. increased its holdings in shares of ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 137 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of ResMed in the 2nd quarter valued at approximately $44,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Michael J. Rider sold 882 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the sale, the general counsel now directly owns 10,512 shares of the company’s stock, valued at $2,428,272. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, General Counsel Michael J. Rider sold 882 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the sale, the general counsel now directly owns 10,512 shares of the company’s stock, valued at $2,428,272. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $246.42, for a total value of $246,420.00. Following the sale, the chief financial officer now directly owns 96,812 shares of the company’s stock, valued at approximately $23,856,413.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,260 shares of company stock worth $14,887,967 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Wolfe Research restated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. KeyCorp upped their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Robert W. Baird upped their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $225.70.

ResMed Trading Up 1.5 %

NYSE:RMD opened at $252.38 on Monday. ResMed Inc. has a 1 year low of $140.81 and a 1 year high of $260.49. The stock has a market cap of $37.05 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 1.85 and a beta of 0.69. The business has a fifty day moving average of $243.36 and a 200-day moving average of $222.35. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

ResMed (NYSE:RMD) last released its quarterly earnings results 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. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 earnings per share. Equities analysts predict that ResMed Inc. will post 9.22 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.84%. ResMed’s dividend payout ratio (DPR) is 28.08%.

About ResMed

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.