ResMed Inc. (NYSE:RMD) Shares Bought by Claro Advisors LLC

Claro Advisors LLC lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 8.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,153 shares of the medical equipment provider’s stock after buying an additional 317 shares during the period. Claro Advisors LLC’s holdings in ResMed were worth $1,014,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of ResMed during the second quarter worth $32,000. Ashton Thomas Securities LLC acquired a new stake in shares of ResMed in the third quarter valued at about $34,000. Versant Capital Management Inc boosted its position in ResMed by 196.7% during 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 last quarter. Financial Connections Group Inc. purchased a new stake in ResMed during the 2nd quarter valued at about $37,000. Finally, Blue Trust Inc. grew its stake 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 acquiring an additional 137 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In related news, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now owns 6,723 shares in the company, valued at $1,672,749.63. This represents a 10.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Michael J. Rider sold 882 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the transaction, the general counsel now owns 10,512 shares of the company’s stock, valued at $2,428,272. This represents a 7.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,056 shares of company stock worth $15,086,020. Insiders own 0.71% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $234.74 on Monday. 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 Inc. has a 1 year low of $147.39 and a 1 year high of $260.49. The firm has a 50 day moving average price of $242.83 and a 200 day moving average price of $223.67. The company has a market cap of $34.46 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.71 and a beta of 0.69.

ResMed (NYSE:RMD) last posted its earnings results 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. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 earnings per share. Sell-side analysts predict that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 annualized dividend and a dividend yield of 0.90%. ResMed’s dividend payout ratio is currently 28.08%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RMD. Robert W. Baird increased their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Bank of America increased their target price on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

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.