Bath Savings Trust Co Invests $208,000 in ResMed Inc. (NYSE:RMD)

Bath Savings Trust Co bought a new position in shares of ResMed Inc. (NYSE:RMD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 850 shares of the medical equipment provider’s stock, valued at approximately $208,000.

Other institutional investors also recently bought and sold shares of the company. Elo Mutual Pension Insurance Co raised its stake in shares of ResMed by 4.7% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 12,841 shares of the medical equipment provider’s stock valued at $2,209,000 after acquiring an additional 573 shares during the period. Neuberger Berman Group LLC raised its position in ResMed by 23.4% during the 4th quarter. Neuberger Berman Group LLC now owns 7,370 shares of the medical equipment provider’s stock worth $1,268,000 after buying an additional 1,399 shares during the last quarter. Vista Investment Management raised its position in ResMed by 4.9% during the 4th quarter. Vista Investment Management now owns 5,347 shares of the medical equipment provider’s stock worth $920,000 after buying an additional 252 shares during the last quarter. Bridgefront Capital LLC acquired a new position in shares of ResMed during the 4th quarter worth $597,000. Finally, Greenvale Capital LLP grew its stake in shares of ResMed by 198.3% during the 4th quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock worth $94,938,000 after purchasing an additional 366,901 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of research reports. Wolfe Research reissued an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. KeyCorp boosted their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Robert W. Baird started coverage on shares of ResMed in a report on Tuesday, September 24th. They issued an “outperform” rating and a $280.00 target price for the company. Royal Bank of Canada lifted their price target on shares of ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 1st. Finally, Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

Insider Buying and Selling

In other ResMed news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $214.25, for a total transaction of $3,145,832.75. Following the completion of the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at approximately $94,441,185.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,248 shares of company stock valued at $20,091,478 over the last 90 days. 1.21% of the stock is currently owned by company insiders.

ResMed Stock Up 1.6 %

RMD stock opened at $236.06 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $255.18. The firm has a fifty day moving average price of $234.51 and a two-hundred day moving average price of $213.37. The firm has a market cap of $34.68 billion, a price-to-earnings ratio of 36.26, a PEG ratio of 2.16 and a beta of 0.69.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.60 earnings per share. Research analysts predict that ResMed Inc. will post 9.02 EPS for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were issued a $0.53 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.12 annualized dividend and a yield of 0.90%. This is an increase from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is presently 32.57%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.