Blue Trust Inc. Acquires 420 Shares of ResMed Inc. (NYSE:RMD)

Blue Trust Inc. raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 43.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,394 shares of the medical equipment provider’s stock after purchasing an additional 420 shares during the period. Blue Trust Inc.’s holdings in ResMed were worth $340,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RMD. True Wealth Design LLC grew its stake in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed in the third quarter worth $34,000. Rosenberg Matthew Hamilton purchased a new stake in shares of ResMed in the fourth quarter worth $54,000. Capital Performance Advisors LLP bought a new position in shares of ResMed during the third quarter valued at $60,000. Finally, Venturi Wealth Management LLC raised its position in shares of ResMed by 55.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock worth $83,000 after purchasing an additional 122 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on RMD. JPMorgan Chase & Co. increased their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Robert W. Baird boosted their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday. 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, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Trading Down 8.1 %

Shares of NYSE:RMD opened at $236.66 on Friday. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $263.05. The stock has a market capitalization of $34.74 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.83 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The stock’s 50-day simple moving average is $240.17 and its two-hundred day simple moving average is $236.21.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 23.15% and a return on equity of 25.53%. Analysts expect that ResMed Inc. will post 9.35 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. ResMed’s dividend payout ratio is currently 25.03%.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the sale, the director now owns 83,204 shares in the company, valued at approximately $20,696,162.96. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Witte Jan De sold 796 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the transaction, the director now owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,030 shares of company stock worth $2,702,687. Corporate 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.