GSA Capital Partners LLP bought a new stake in ResMed Inc. (NYSE:RMD – Free Report) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 1,680 shares of the medical equipment provider’s stock, valued at approximately $410,000.
A number of other institutional investors and hedge funds also recently modified their holdings of RMD. Entropy Technologies LP purchased a new position in ResMed in the 3rd quarter worth approximately $1,872,000. Apollon Wealth Management LLC raised its position in shares of ResMed by 15.1% during the 3rd quarter. Apollon Wealth Management LLC now owns 1,451 shares of the medical equipment provider’s stock valued at $354,000 after acquiring an additional 190 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in ResMed by 55.7% during the third quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock worth $83,000 after purchasing an additional 122 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in ResMed during the third quarter worth $34,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in ResMed by 1.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 53,893 shares of the medical equipment provider’s stock worth $13,156,000 after purchasing an additional 524 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on RMD. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Bank of America lifted their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Baird R W raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.70.
ResMed Trading Up 0.8 %
Shares of RMD stock opened at $243.60 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $35.76 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 1.73 and a beta of 0.69. The stock has a 50 day simple moving average of $241.96 and a 200 day simple moving average of $224.23. ResMed Inc. has a 1 year low of $151.95 and a 1 year high of $260.49.
ResMed (NYSE:RMD – Get Free Report) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.64 earnings per share. On average, research analysts predict that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.
ResMed Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. ResMed’s dividend payout ratio (DPR) is currently 28.08%.
Insider Transactions at ResMed
In other news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction on Tuesday, November 12th. The shares were 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 of the company’s stock, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction 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 completion of the transaction, the insider now owns 21,788 shares in the company, valued at approximately $5,502,777.28. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,174 shares of company stock valued at $14,882,278 in the last 90 days. 0.71% of the stock is currently owned by corporate insiders.
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.
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