Silver Oak Securities Incorporated Acquires 4,748 Shares of ResMed Inc. (NYSE:RMD)

Silver Oak Securities Incorporated grew its holdings in ResMed Inc. (NYSE:RMD) by 5,585.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,833 shares of the medical equipment provider’s stock after acquiring an additional 4,748 shares during the period. Silver Oak Securities Incorporated’s holdings in ResMed were worth $1,155,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in ResMed in the second quarter worth approximately $32,000. BOK Financial Private Wealth Inc. bought a new position in ResMed in the first quarter worth approximately $35,000. Versant Capital Management Inc raised its position in ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 120 shares during the period. Financial Connections Group Inc. bought a new position in ResMed in the second quarter worth approximately $37,000. Finally, Blue Trust Inc. raised its position in ResMed by 182.7% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 137 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RMD has been the topic of several recent analyst reports. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday. Royal Bank of Canada raised their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday. Wolfe Research restated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Finally, KeyCorp raised their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $220.55.

ResMed Stock Performance

Shares of NYSE:RMD opened at $256.07 on Friday. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $260.49. The stock has a market capitalization of $37.58 billion, a P/E ratio of 36.95, a PEG ratio of 1.94 and a beta of 0.69. The firm has a fifty day simple moving average of $240.22 and a two-hundred day simple moving average of $217.35. 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 issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company posted $1.64 EPS. The business’s revenue was up 11.1% on a year-over-year basis. On average, analysts expect that ResMed Inc. will post 9.08 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid 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 dividend yield of 0.83%. ResMed’s dividend payout ratio is presently 30.59%.

Insider Buying and Selling

In related news, insider Kaushik Ghoshal sold 4,260 shares of ResMed stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,196,002.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Kaushik Ghoshal sold 4,260 shares of ResMed stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,196,002.24. The trade was a 0.00 % 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, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $233.47, for a total transaction of $233,470.00. Following the transaction, the chief financial officer now directly owns 95,812 shares of the company’s stock, valued at approximately $22,369,227.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,874 shares of company stock valued at $28,151,142. Company insiders own 0.71% of the company’s stock.

ResMed Company 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.