Quest Partners LLC Increases Stake in ResMed Inc. (NYSE:RMD)

Quest Partners LLC raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 472.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,872 shares of the medical equipment provider’s stock after acquiring an additional 1,545 shares during the quarter. Quest Partners LLC’s holdings in ResMed were worth $457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans lifted its position in ResMed by 12.2% during the third quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock valued at $1,697,000 after purchasing an additional 755 shares in the last quarter. Claro Advisors LLC lifted its position in shares of ResMed by 8.3% during the 3rd quarter. Claro Advisors LLC now owns 4,153 shares of the medical equipment provider’s stock valued at $1,014,000 after buying an additional 317 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of ResMed by 31.9% during the 3rd quarter. Natixis Advisors LLC now owns 51,498 shares of the medical equipment provider’s stock valued at $12,572,000 after acquiring an additional 12,445 shares during the period. Archer Investment Corp increased its holdings in ResMed by 5,159.1% in the 3rd quarter. Archer Investment Corp now owns 1,157 shares of the medical equipment provider’s stock worth $282,000 after acquiring an additional 1,135 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in ResMed by 284.3% during the 3rd quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock worth $2,004,000 after acquiring an additional 6,072 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

ResMed stock opened at $243.78 on Friday. The company’s 50-day moving average price is $241.86 and its 200-day moving average price is $224.47. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a market cap of $35.79 billion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 1.77 and a beta of 0.69. ResMed Inc. has a twelve month low of $151.95 and a twelve month high of $260.49.

ResMed (NYSE:RMD) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 earnings per share. On average, equities research analysts forecast that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be paid 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 0.87%. ResMed’s payout ratio is 28.08%.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of analyst reports. Robert W. Baird increased 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. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Bank of America increased their target price on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Baird R W raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.70.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the sale, the director now owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The trade was a 2.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Witte Jan De sold 796 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,174 shares of company stock valued at $14,882,278. 0.71% of the stock is currently owned by company insiders.

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.