ResMed Inc. (NYSE:RMD) Shares Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its position in ResMed Inc. (NYSE:RMD) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,662 shares of the medical equipment provider’s stock after purchasing an additional 288 shares during the period. Vontobel Holding Ltd.’s holdings in ResMed were worth $894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in 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 valued at $1,105,022,000 after buying an additional 1,959,642 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after buying an additional 241,195 shares in the last quarter. Greenvale Capital LLP increased its stake in shares of ResMed by 61.1% during 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of ResMed by 19.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after purchasing an additional 107,279 shares in the last quarter. Finally, Tandem Investment Advisors Inc. increased its stake in shares of ResMed by 3.0% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider’s stock worth $95,976,000 after purchasing an additional 14,590 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of recent research reports. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. 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. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Tuesday, October 1st. Robert W. Baird initiated coverage on shares of ResMed in a research note on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price objective for the company. Finally, Bank of America raised their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.18.

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now owns 21,788 shares in the company, valued at approximately $5,502,777.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the sale, the general counsel now owns 10,512 shares of the company’s stock, valued at $2,428,272. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 sale, the insider now directly owns 21,788 shares in the company, valued at $5,502,777.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,874 shares of company stock worth $28,151,142. 1.21% of the stock is currently owned by corporate insiders.

ResMed Stock Up 0.2 %

Shares of RMD opened at $240.00 on Monday. The firm has a market cap of $35.26 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 2.17 and a beta of 0.69. The company’s fifty day moving average is $238.78 and its two-hundred day moving average is $216.31. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $1.20 billion for 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%. ResMed’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the business earned $1.60 EPS. Analysts forecast that ResMed Inc. will post 9.02 earnings per share for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio (DPR) is 32.57%.

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.