Aaron Wealth Advisors LLC Invests $313,000 in ResMed Inc. (NYSE:RMD)

Aaron Wealth Advisors LLC acquired a new position in ResMed Inc. (NYSE:RMD) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,284 shares of the medical equipment provider’s stock, valued at approximately $313,000.

A number of other hedge funds have also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in shares of ResMed by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after buying an additional 1,959,642 shares during the period. Marshall Wace LLP bought a new stake in shares of ResMed during the second quarter valued at approximately $77,285,000. Greenvale Capital LLP boosted its holdings in shares of ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after purchasing an additional 275,000 shares during the period. Los Angeles Capital Management LLC increased its holdings in ResMed by 48.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after purchasing an additional 241,195 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of ResMed during the 2nd quarter worth $42,036,000. Institutional investors own 54.98% of the company’s stock.

Insider Activity

In related news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the transaction, the director now directly owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,874 shares of company stock worth $28,151,142. 1.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of recent research reports. Robert W. Baird assumed coverage on shares of ResMed in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $280.00 price objective for the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Wolfe Research reissued an “underperform” rating and set a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Tuesday, October 1st. Finally, Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $218.18.

ResMed Stock Performance

RMD opened at $240.00 on Friday. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $255.18. The stock’s 50 day simple moving average is $238.78 and its 200 day simple moving average is $216.10. The stock has a market cap of $35.26 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.17 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. ResMed’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 EPS. As a group, equities analysts anticipate that ResMed Inc. will post 9.02 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.53 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Thursday, August 15th. ResMed’s dividend payout ratio (DPR) is currently 32.57%.

About ResMed

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.