Financial Advocates Investment Management Sells 157 Shares of ResMed Inc. (NYSE:RMD)

Financial Advocates Investment Management trimmed its position in ResMed Inc. (NYSE:RMD) by 5.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,651 shares of the medical equipment provider’s stock after selling 157 shares during the period. Financial Advocates Investment Management’s holdings in ResMed were worth $647,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of ResMed by 22.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,104 shares of the medical equipment provider’s stock worth $1,011,000 after purchasing an additional 923 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of ResMed by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 350,541 shares of the medical equipment provider’s stock valued at $69,418,000 after buying an additional 1,797 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of ResMed by 13.3% during the first quarter. First Trust Direct Indexing L.P. now owns 4,290 shares of the medical equipment provider’s stock valued at $850,000 after buying an additional 505 shares during the last quarter. Norden Group LLC increased its position in shares of ResMed by 85.0% during the first quarter. Norden Group LLC now owns 2,590 shares of the medical equipment provider’s stock worth $513,000 after acquiring an additional 1,190 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in shares of ResMed in the 1st quarter worth about $360,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on RMD. Wolfe Research reiterated an “underperform” rating and set a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. Baird R W raised ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America increased their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. KeyCorp upped their target price on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Robert W. Baird raised their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $225.70.

Insider Activity at ResMed

In other news, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the transaction, the general counsel now owns 10,512 shares in the company, valued at $2,428,272. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Michael J. Rider sold 882 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the transaction, the general counsel now directly owns 10,512 shares of the company’s stock, valued at $2,428,272. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 4,260 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the sale, the insider now owns 21,788 shares in the company, valued at approximately $5,196,002.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,874 shares of company stock worth $28,151,142. Company insiders own 0.71% of the company’s stock.

ResMed Stock Up 0.7 %

RMD opened at $244.28 on Friday. ResMed Inc. has a twelve month low of $140.81 and a twelve month high of $260.49. The company’s 50-day moving average price is $242.63 and its two-hundred day moving average price is $219.96. The stock has a market cap of $35.86 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.78 and a beta of 0.69. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior 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 analysts expect 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. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.87%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is currently 28.08%.

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.