Ascent Group LLC Has $551,000 Stake in ResMed Inc. (NYSE:RMD)

Ascent Group LLC lifted its position in shares of ResMed Inc. (NYSE:RMD) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,876 shares of the medical equipment provider’s stock after buying an additional 207 shares during the quarter. Ascent Group LLC’s holdings in ResMed were worth $551,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of ResMed by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock worth $3,052,229,000 after acquiring an additional 173,635 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after purchasing an additional 1,959,642 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after buying an additional 241,195 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of ResMed by 15.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock worth $120,225,000 after buying an additional 95,689 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of ResMed by 19.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after buying an additional 107,279 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 2.2 %

RMD stock opened at $238.75 on Wednesday. The stock has a 50-day simple moving average of $232.04 and a two-hundred day simple moving average of $212.15. The firm has a market capitalization of $35.08 billion, a PE ratio of 36.67, a PEG ratio of 2.36 and a beta of 0.69. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $255.18. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business posted $1.60 earnings per share. ResMed’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts predict that ResMed Inc. will post 8.97 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. ResMed’s dividend payout ratio (DPR) is presently 32.57%.

Insider Transactions at ResMed

In other news, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the sale, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the 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 sale, the general counsel now directly owns 10,512 shares in the company, valued at approximately $2,428,272. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,931 shares of company stock worth $22,644,807. 1.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RMD has been the topic of several research analyst reports. KeyCorp increased their target price on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Bank of America upped their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada boosted their price objective on ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a report on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Tuesday. One 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.75.

About ResMed

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.