ResMed Inc. (NYSE:RMD) Position Increased by Sanctuary Advisors LLC

Sanctuary Advisors LLC boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 19.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,265 shares of the medical equipment provider’s stock after purchasing an additional 1,197 shares during the quarter. Sanctuary Advisors LLC’s holdings in ResMed were worth $1,771,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after acquiring an additional 116,918 shares during the period. Bank of New York Mellon Corp grew its position in ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after purchasing an additional 1,959,642 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after purchasing an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of ResMed by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock valued at $225,578,000 after buying an additional 13,985 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after buying an additional 2,406 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on RMD shares. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Baird R W raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. KeyCorp raised their target price on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Finally, Royal Bank of Canada increased their price objective 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. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $227.91.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $237.20, for a total transaction of $474,400.00. Following the transaction, the director now owns 85,204 shares of the company’s stock, valued at $20,210,388.80. The trade was a 2.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Witte Jan De sold 796 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,725 shares of company stock worth $11,253,448 over the last 90 days. 0.71% of the stock is owned by company insiders.

ResMed Price Performance

NYSE RMD opened at $231.58 on Friday. The stock has a market capitalization of $34.00 billion, a P/E ratio of 30.67, a P/E/G ratio of 1.73 and a beta of 0.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The business’s fifty day moving average is $242.79 and its two-hundred day moving average is $228.26. ResMed Inc. has a 1 year low of $164.12 and a 1 year high of $260.49.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.64 earnings per share. On average, research analysts forecast that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is currently 28.08%.

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.