Venturi Wealth Management LLC Increases Stock Holdings in ResMed Inc. (NYSE:RMD)

Venturi Wealth Management LLC increased its holdings in ResMed Inc. (NYSE:RMD) by 55.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 341 shares of the medical equipment provider’s stock after purchasing an additional 122 shares during the quarter. Venturi Wealth Management LLC’s holdings in ResMed were worth $83,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position in shares of ResMed by 1.9% in the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after purchasing an additional 47 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in ResMed by 3.7% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock valued at $292,000 after buying an additional 52 shares in the last quarter. QRG Capital Management Inc. grew its holdings in ResMed by 4.5% during the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock valued at $247,000 after buying an additional 56 shares during the last quarter. Inspire Advisors LLC increased its position in ResMed by 1.9% during the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock worth $586,000 after buying an additional 56 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position in shares of ResMed by 3.1% in the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after acquiring an additional 57 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $248.38, for a total value of $3,646,963.54. Following the completion of the transaction, the chief executive officer now owns 464,169 shares in the company, valued at approximately $115,290,296.22. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,056 shares of company stock worth $15,086,020 over the last 90 days. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of recent research reports. Bank of America lifted their price objective on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Wolfe Research reissued an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. KeyCorp boosted their price target on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average target price of $225.70.

ResMed Stock Performance

NYSE:RMD opened at $231.43 on Friday. The firm’s fifty day simple moving average is $243.30 and its 200 day simple moving average is $223.37. 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 twelve month low of $147.31 and a twelve month high of $260.49. The firm has a market capitalization of $33.97 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 1.81 and a beta of 0.69.

ResMed (NYSE:RMD) last issued 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. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $1.64 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts expect that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is 28.08%.

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.