Mediolanum International Funds Ltd Has $2.65 Million Position in ResMed Inc. (NYSE:RMD)

Mediolanum International Funds Ltd cut its stake in ResMed Inc. (NYSE:RMD) by 4.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 11,119 shares of the medical equipment provider’s stock after selling 529 shares during the quarter. Mediolanum International Funds Ltd’s holdings in ResMed were worth $2,653,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of RMD. Wellington Management Group LLP bought a new stake in ResMed during the fourth quarter worth about $7,535,000. Park Avenue Securities LLC boosted its position in shares of ResMed by 20.3% during the 1st quarter. Park Avenue Securities LLC now owns 2,266 shares of the medical equipment provider’s stock worth $449,000 after acquiring an additional 382 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in ResMed by 22.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,104 shares of the medical equipment provider’s stock valued at $1,011,000 after acquiring an additional 923 shares during the last quarter. Claro Advisors LLC acquired a new position in ResMed during the first quarter valued at approximately $791,000. Finally, Congress Wealth Management LLC DE lifted its stake in ResMed by 11.7% during the first quarter. Congress Wealth Management LLC DE now owns 63,403 shares of the medical equipment provider’s stock worth $12,556,000 after purchasing an additional 6,626 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Trading Up 7.1 %

Shares of RMD stock opened at $256.07 on Friday. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $260.49. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. The stock has a market cap of $37.58 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 1.94 and a beta of 0.69. The stock has a 50-day moving average of $240.79 and a 200-day moving average of $217.83.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 EPS. On average, equities research analysts forecast that ResMed Inc. will post 9.08 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio is presently 30.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RMD shares. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. KeyCorp increased their target price on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank of Canada lifted their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.55.

Insider Activity at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 21,788 shares in the company, valued at approximately $5,502,777.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other ResMed news, insider Justin Leong sold 48,000 shares of the business’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 value of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. This trade represents 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 worth $28,151,142 over the last quarter. Company insiders own 0.71% of the company’s stock.

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.