NorthCrest Asset Manangement LLC Purchases 1,378 Shares of ResMed Inc. (NYSE:RMD)

NorthCrest Asset Manangement LLC increased its stake in shares of ResMed Inc. (NYSE:RMD) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,492 shares of the medical equipment provider’s stock after purchasing an additional 1,378 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in ResMed were worth $12,814,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of ResMed in the 2nd quarter valued at $32,000. BOK Financial Private Wealth Inc. bought a new stake in shares of ResMed in the 1st quarter valued at $35,000. Versant Capital Management Inc boosted its stake in shares of ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the last quarter. Financial Connections Group Inc. bought a new stake in shares of ResMed in the 2nd quarter valued at $37,000. Finally, Blue Trust Inc. boosted its stake in shares of ResMed by 182.7% in 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 last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RMD shares. Bank of America increased their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. KeyCorp increased their target price on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. 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 research note on Friday. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $220.55.

Insider Buying and Selling at ResMed

In other ResMed news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $214.25, for a total value of $3,145,832.75. Following the transaction, the chief executive officer now owns 440,799 shares in the company, valued at approximately $94,441,185.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Justin Leong sold 48,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the sale, the insider now owns 18,741 shares of the company’s stock, valued at $4,068,108.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 123,874 shares of company stock worth $28,151,142 over the last three months. 0.71% of the stock is owned by insiders.

ResMed Price Performance

Shares of RMD stock traded up $17.02 during trading hours on Friday, reaching $256.07. The stock had a trading volume of 3,516,542 shares, compared to its average volume of 1,046,026. The stock’s fifty day simple moving average is $240.22 and its 200 day simple moving average is $217.35. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $260.49. The firm has a market capitalization of $37.58 billion, a PE ratio of 36.95, a PEG ratio of 1.94 and a beta of 0.69.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating 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 company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the business earned $1.64 earnings per share. ResMed’s revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that ResMed Inc. will post 9.08 EPS for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.83%. ResMed’s payout ratio is presently 30.59%.

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.