Resources Management Corp CT ADV Has $951,000 Position in ResMed Inc. (NYSE:RMD)

Resources Management Corp CT ADV reduced its position in shares of ResMed Inc. (NYSE:RMD) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,896 shares of the medical equipment provider’s stock after selling 105 shares during the quarter. Resources Management Corp CT ADV’s holdings in ResMed were worth $951,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Versor Investments LP increased its stake in ResMed by 327.3% during the 2nd quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock worth $900,000 after acquiring an additional 3,600 shares during the period. Assenagon Asset Management S.A. increased its stake in ResMed by 245.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider’s stock worth $6,414,000 after acquiring an additional 23,801 shares during the period. Retireful LLC bought a new position in ResMed during the 3rd quarter worth $742,000. Addenda Capital Inc. increased its stake in ResMed by 17.4% during the 2nd quarter. Addenda Capital Inc. now owns 58,986 shares of the medical equipment provider’s stock worth $11,291,000 after acquiring an additional 8,747 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in ResMed by 5.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after acquiring an additional 2,878 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RMD shares. Wolfe Research restated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Bank of America lifted their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. KeyCorp lifted their price target on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.70.

Insider Buying and Selling

In other ResMed news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares in the company, valued at $5,502,777.28. The trade was a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,725 shares of company stock worth $12,516,248 in the last 90 days. Insiders own 0.71% of the company’s stock.

ResMed Trading Up 1.3 %

Shares of RMD stock opened at $244.63 on Tuesday. The firm has a market capitalization of $35.91 billion, a P/E ratio of 32.40, a P/E/G ratio of 1.75 and a beta of 0.68. ResMed Inc. has a twelve month low of $162.18 and a twelve month high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $242.31 and its 200 day simple moving average is $226.81.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. As a group, sell-side analysts predict that ResMed Inc. will post 9.34 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 is currently 28.08%.

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.