ResMed Inc. (NYSE:RMD) Stock Holdings Raised by Vontobel Holding Ltd.

Vontobel Holding Ltd. raised its stake in ResMed Inc. (NYSE:RMD) by 8.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,662 shares of the medical equipment provider’s stock after acquiring an additional 288 shares during the period. Vontobel Holding Ltd.’s holdings in ResMed were worth $894,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of ResMed in the 2nd quarter worth about $32,000. BOK Financial Private Wealth Inc. acquired a new position in ResMed during the 1st quarter valued at about $35,000. Versant Capital Management Inc boosted its stake in ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the period. Financial Connections Group Inc. acquired a new position in ResMed during the 2nd quarter valued at about $37,000. Finally, Riverview Trust Co acquired a new position in ResMed during the 1st quarter valued at about $42,000. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Bank of America upped their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. 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 target for the company. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada upped their price target on shares of ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $218.18.

Insider Transactions at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares in the company, valued at $2,428,272. The trade was 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 this hyperlink. In other news, insider Kaushik Ghoshal sold 4,260 shares of ResMed stock in a transaction on Friday, October 11th. The stock was sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the sale, the insider now directly owns 21,788 shares in the company, valued at $5,196,002.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the general counsel now directly owns 10,512 shares of the company’s stock, valued at $2,428,272. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,874 shares of company stock valued at $28,151,142 over the last 90 days. 1.21% of the stock is owned by corporate insiders.

ResMed Stock Performance

NYSE RMD opened at $240.00 on Monday. The company’s fifty day moving average is $238.78 and its two-hundred day moving average is $216.31. The firm has a market capitalization of $35.26 billion, a price-to-earnings ratio of 36.87, a P/E/G ratio of 2.17 and a beta of 0.69. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $255.18. 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 announced its quarterly 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 firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm posted $1.60 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that ResMed Inc. will post 9.02 EPS for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were paid a $0.53 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s payout ratio is presently 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.