Intech Investment Management LLC Buys Shares of 1,000 ResMed Inc. (NYSE:RMD)

Intech Investment Management LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,000 shares of the medical equipment provider’s stock, valued at approximately $244,000.

A number of other institutional investors also recently made changes to their positions in the stock. UMB Bank n.a. increased its position in ResMed by 1.9% during the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock worth $602,000 after purchasing an additional 47 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of ResMed by 4.5% in the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock valued at $247,000 after buying an additional 56 shares during the last quarter. Inspire Advisors LLC lifted its stake in shares of ResMed by 1.9% during the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock valued at $586,000 after buying an additional 56 shares during the period. Concurrent Investment Advisors LLC boosted its position in ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after acquiring an additional 57 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC boosted its position in ResMed by 2.0% during the third quarter. Moss Adams Wealth Advisors LLC now owns 3,043 shares of the medical equipment provider’s stock worth $743,000 after acquiring an additional 60 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 21,788 shares in the company, valued at $5,502,777.28. This trade represents a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $246.42, for a total value of $246,420.00. Following the transaction, the chief financial officer now directly owns 96,812 shares of the company’s stock, valued at $23,856,413.04. This represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,408 shares of company stock valued at $16,409,632. 0.71% of the stock is owned by corporate insiders.

ResMed Trading Down 2.6 %

Shares of NYSE:RMD opened at $239.41 on Friday. The company has a 50 day moving average of $242.25 and a 200-day moving average of $226.30. 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 firm has a market cap of $35.15 billion, a P/E ratio of 31.71, a P/E/G ratio of 1.80 and a beta of 0.68. ResMed Inc. has a twelve month low of $162.05 and a twelve month high of $260.49.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company posted $1.64 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given 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 dividend yield of 0.89%. ResMed’s dividend payout ratio (DPR) is 28.08%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Robert W. Baird increased their price target on 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 reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Bank of America upped their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada boosted their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus price target of $225.70.

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.