ResMed Inc. (NYSE:RMD) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its position in shares of ResMed Inc. (NYSE:RMD) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,603 shares of the medical equipment provider’s stock after buying an additional 219 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ResMed were worth $22,850,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of ResMed by 1.9% during the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after acquiring an additional 47 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of ResMed by 4.5% during the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after purchasing an additional 56 shares during the period. Inspire Advisors LLC lifted its position in shares of ResMed by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock worth $586,000 after buying an additional 56 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of ResMed by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after buying an additional 57 shares during the period. Finally, Moss Adams Wealth Advisors LLC grew its position in shares of ResMed by 2.0% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 3,043 shares of the medical equipment provider’s stock valued at $743,000 after buying an additional 60 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 0.8 %

ResMed stock opened at $243.60 on Friday. The stock has a market capitalization of $35.76 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 1.73 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. ResMed Inc. has a 12-month low of $151.95 and a 12-month high of $260.49. The firm has a 50 day simple moving average of $241.96 and a 200-day simple moving average of $224.23.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $1.64 earnings per share. ResMed’s revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 dividend on an annualized basis and a dividend yield of 0.87%. ResMed’s payout ratio is currently 28.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RMD shares. Bank of America raised their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. KeyCorp raised their target price on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Baird R W raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.70.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the sale, the chief executive officer now owns 464,169 shares in the company, valued at approximately $107,645,432.79. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Witte Jan De sold 796 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,174 shares of company stock valued at $14,882,278 over the last ninety days. Insiders own 0.71% of the company’s stock.

ResMed 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.