Cerity Partners LLC Acquires 6,167 Shares of ResMed Inc. (NYSE:RMD)

Cerity Partners LLC increased its stake in ResMed Inc. (NYSE:RMD) by 82.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,686 shares of the medical equipment provider’s stock after acquiring an additional 6,167 shares during the quarter. Cerity Partners LLC’s holdings in ResMed were worth $3,341,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in ResMed in the second quarter valued at $32,000. Ashton Thomas Securities LLC acquired a new position in ResMed during the 3rd quarter worth approximately $34,000. Versant Capital Management Inc boosted its holdings in ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 120 shares in the last quarter. Financial Connections Group Inc. acquired a new stake in ResMed in the second quarter valued at approximately $37,000. Finally, Blue Trust Inc. increased its holdings in shares of ResMed by 182.7% during the second 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 in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank of Canada increased their target price on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. KeyCorp lifted their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, October 25th. 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. Finally, Wolfe Research reissued an “underperform” rating and set a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $225.70.

Insider Activity at ResMed

In other news, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. This represents a 18.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $231.91, for a total value of $3,405,134.53. Following the completion of the sale, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at approximately $107,645,432.79. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,334 shares of company stock worth $16,379,713. Insiders own 0.71% of the company’s stock.

ResMed Stock Performance

Shares of ResMed stock opened at $249.26 on Friday. The business’s fifty day simple moving average is $242.24 and its 200 day simple moving average is $225.60. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $156.39 and a 12 month high of $260.49. The firm has a market capitalization of $36.59 billion, a P/E ratio of 33.01, a price-to-earnings-growth ratio of 1.81 and a beta of 0.69.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion for 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 business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 EPS. As a group, analysts anticipate that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Announces Dividend

The business also recently declared 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 0.85%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

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.