Thrivent Financial for Lutherans Boosts Holdings in ResMed Inc. (NYSE:RMD)

Thrivent Financial for Lutherans boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,952 shares of the medical equipment provider’s stock after buying an additional 755 shares during the quarter. Thrivent Financial for Lutherans’ holdings in ResMed were worth $1,697,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RMD. Janus Henderson Group PLC increased its position in ResMed by 4.8% in the first quarter. Janus Henderson Group PLC now owns 19,516 shares of the medical equipment provider’s stock worth $3,865,000 after buying an additional 902 shares in the last quarter. Tidal Investments LLC increased its holdings in ResMed by 58.2% in the 1st quarter. Tidal Investments LLC now owns 8,954 shares of the medical equipment provider’s stock worth $1,773,000 after acquiring an additional 3,294 shares in the last quarter. Swedbank AB bought a new stake in ResMed during the 1st quarter worth approximately $13,510,000. Cetera Advisors LLC purchased a new position in ResMed during the first quarter valued at approximately $257,000. Finally, Keynote Financial Services LLC bought a new position in shares of ResMed in the first quarter worth approximately $262,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction dated 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 completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The trade was a 18.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Witte Jan De sold 796 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,334 shares of company stock valued at $16,379,713. 0.71% of the stock is currently owned by insiders.

ResMed Price Performance

RMD stock opened at $249.26 on Friday. ResMed Inc. has a 52 week low of $156.39 and a 52 week high of $260.49. The firm has a market capitalization of $36.59 billion, a P/E ratio of 33.01, a price-to-earnings-growth ratio of 1.81 and a beta of 0.69. The company has a fifty day simple moving average of $242.24 and a two-hundred day simple moving average of $225.60. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

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

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is 28.08%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RMD. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Baird R W raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Wolfe Research restated an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Robert W. Baird increased their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada boosted their price target on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.