Archer Investment Corp Purchases 1,135 Shares of ResMed Inc. (NYSE:RMD)

Archer Investment Corp raised its holdings in ResMed Inc. (NYSE:RMD) by 5,159.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,157 shares of the medical equipment provider’s stock after purchasing an additional 1,135 shares during the period. Archer Investment Corp’s holdings in ResMed were worth $282,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in ResMed during the third quarter valued at approximately $34,000. OFI Invest Asset Management bought a new stake in ResMed during the 2nd quarter valued at $32,000. Versant Capital Management Inc raised its holdings in ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 120 shares during the last quarter. Financial Connections Group Inc. purchased a new position in ResMed during the 2nd quarter valued at $37,000. Finally, Blue Trust Inc. increased its position in ResMed by 182.7% during the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 137 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD traded up $1.60 on Friday, reaching $233.03. The company’s stock had a trading volume of 95,337 shares, compared to its average volume of 1,044,558. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The stock has a market capitalization of $34.21 billion, a P/E ratio of 30.77, a PEG ratio of 1.71 and a beta of 0.69. The stock’s 50 day simple moving average is $243.03 and its two-hundred day simple moving average is $223.42. ResMed Inc. has a 12-month low of $147.39 and a 12-month high of $260.49.

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

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio is currently 28.08%.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of recent research reports. KeyCorp upped their target price on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. 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 research report on Friday, October 25th. Finally, Robert W. Baird increased their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus price target of $225.70.

Insider Buying and Selling at ResMed

In related news, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the sale, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. The trade was a 7.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the completion of the sale, the chief executive officer now owns 464,169 shares in the company, valued at $115,290,296.22. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,056 shares of company stock valued at $15,086,020 over the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

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.