ResMed Inc. (NYSE:RMD) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its position in ResMed Inc. (NYSE:RMD) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,507 shares of the medical equipment provider’s stock after purchasing an additional 811 shares during the period. Janney Montgomery Scott LLC owned about 0.06% of ResMed worth $20,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after acquiring an additional 1,959,642 shares during the period. Marshall Wace LLP acquired a new position in ResMed in the 2nd quarter worth about $77,285,000. Greenvale Capital LLP raised its holdings in ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after purchasing an additional 275,000 shares during the period. Los Angeles Capital Management LLC boosted its position in ResMed by 48.3% during the second 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 in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in ResMed in the second quarter valued at approximately $42,036,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the transaction, the director now directly owns 87,204 shares in the company, valued at approximately $20,920,239.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the sale, the director now directly owns 87,204 shares in the company, valued at approximately $20,920,239.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. Rider sold 882 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,260 shares of company stock valued at $14,602,647 in the last 90 days. Company insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RMD shares. Wolfe Research reiterated an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Robert W. Baird boosted their target price 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. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

ResMed Price Performance

RMD stock opened at $245.74 on Wednesday. ResMed Inc. has a 1 year low of $140.81 and a 1 year high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The firm has a market capitalization of $36.07 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.79 and a beta of 0.69. The business has a 50 day simple moving average of $243.06 and a 200-day simple moving average of $221.22.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping 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 return on equity of 25.53% and a net margin of 23.15%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company earned $1.64 EPS. Equities research analysts anticipate that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.86%. ResMed’s payout ratio is 28.08%.

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.