Metis Global Partners LLC Has $1.66 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

Metis Global Partners LLC grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,790 shares of the medical equipment provider’s stock after buying an additional 317 shares during the quarter. Metis Global Partners LLC’s holdings in ResMed were worth $1,658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. KBC Group NV lifted its position in ResMed by 255.3% in the 3rd quarter. KBC Group NV now owns 72,731 shares of the medical equipment provider’s stock valued at $17,756,000 after acquiring an additional 52,259 shares in the last quarter. Huntington National Bank raised its stake in shares of ResMed by 6.9% in the third quarter. Huntington National Bank now owns 1,868 shares of the medical equipment provider’s stock worth $456,000 after purchasing an additional 120 shares during the last quarter. Cable Hill Partners LLC bought a new position in shares of ResMed in the third quarter valued at approximately $211,000. Victory Capital Management Inc. boosted its position in shares of ResMed by 11.4% during the third quarter. Victory Capital Management Inc. now owns 116,710 shares of the medical equipment provider’s stock valued at $28,491,000 after buying an additional 11,914 shares during the last quarter. Finally, Cumberland Partners Ltd bought a new stake in ResMed during the third quarter worth $488,000. 54.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. 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. Royal Bank of Canada raised their price target 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. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, KeyCorp boosted their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $225.70.

Insider Transactions at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $246.42, for a total transaction of $246,420.00. Following the completion of the sale, the chief financial officer now directly owns 96,812 shares in the company, valued at approximately $23,856,413.04. This represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the transaction, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. This represents a 7.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,056 shares of company stock worth $15,086,020. Insiders own 0.71% of the company’s stock.

ResMed Price Performance

Shares of ResMed stock opened at $234.74 on Friday. The stock has a market capitalization of $34.46 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 1.71 and a beta of 0.69. The company has a fifty day moving average of $242.83 and a 200-day moving average of $223.55. ResMed Inc. has a 52-week low of $147.39 and a 52-week high of $260.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

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

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.90%. ResMed’s 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.