D.A. Davidson & CO. Takes Position in ResMed Inc. (NYSE:RMD)

D.A. Davidson & CO. acquired a new position in ResMed Inc. (NYSE:RMD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 940 shares of the medical equipment provider’s stock, valued at approximately $229,000.

Several other institutional investors have also bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its holdings in ResMed by 0.3% in the third quarter. The Manufacturers Life Insurance Company now owns 88,469 shares of the medical equipment provider’s stock worth $21,593,000 after purchasing an additional 240 shares during the period. Qsemble Capital Management LP acquired a new position in shares of ResMed in the 3rd quarter valued at about $728,000. Private Trust Co. NA lifted its position in shares of ResMed by 13.6% in the third quarter. Private Trust Co. NA now owns 1,038 shares of the medical equipment provider’s stock worth $253,000 after purchasing an additional 124 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of ResMed by 533.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 8,509 shares of the medical equipment provider’s stock worth $2,077,000 after purchasing an additional 7,165 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of ResMed by 6.2% in the third quarter. Fisher Asset Management LLC now owns 26,727 shares of the medical equipment provider’s stock worth $6,525,000 after purchasing an additional 1,563 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

ResMed stock opened at $245.80 on Thursday. The stock has a 50-day simple moving average of $242.31 and a 200 day simple moving average of $226.21. 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 Inc. has a 12-month low of $160.16 and a 12-month high of $260.49. The stock has a market capitalization of $36.08 billion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 1.78 and a beta of 0.68.

ResMed (NYSE:RMD) last announced its quarterly earnings data 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 firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $1.64 earnings per share. On average, research analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Announces Dividend

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 given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.86%. ResMed’s payout ratio is 28.08%.

Insider Transactions at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $246.42, for a total transaction of $246,420.00. Following the completion of the transaction, the chief financial officer now directly owns 96,812 shares in the company, valued at approximately $23,856,413.04. The trade was a 1.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value 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. The trade was a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,408 shares of company stock worth $15,918,332. 0.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RMD. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Robert W. Baird raised their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Finally, 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $225.70.

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.