Orion Portfolio Solutions LLC Increases Position in ResMed Inc. (NYSE:RMD)

Orion Portfolio Solutions LLC lifted its position in ResMed Inc. (NYSE:RMD) by 21.9% in the third quarter, HoldingsChannel.com reports. The firm owned 4,689 shares of the medical equipment provider’s stock after purchasing an additional 841 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in ResMed were worth $1,145,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RMD. True Wealth Design LLC increased its stake in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of ResMed in the second quarter worth $32,000. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed in the third quarter worth $34,000. Financial Connections Group Inc. purchased a new stake in shares of ResMed in the second quarter worth $37,000. Finally, Blue Trust Inc. grew its stake in ResMed by 182.7% during the second 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 owned by hedge funds and other institutional investors.

ResMed Trading Down 1.6 %

Shares of RMD opened at $238.52 on Friday. ResMed Inc. has a 1-year low of $164.12 and a 1-year high of $260.49. The company has a 50-day moving average of $242.75 and a 200 day moving average of $227.59. The firm has a market capitalization of $35.01 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.78 and a beta of 0.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business posted $1.64 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts expect that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. ResMed’s dividend payout ratio is currently 28.08%.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total value of $474,400.00. Following the completion of the sale, the director now owns 85,204 shares in the company, valued at approximately $20,210,388.80. The trade was a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Witte Jan De sold 796 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,725 shares of company stock worth $11,253,448. 0.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. KeyCorp raised their target price on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada raised their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Wolfe Research reissued an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. Robert W. Baird lifted their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Stifel Nicolaus started coverage on shares of ResMed in a research note on Friday. They issued a “hold” rating and a $250.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $227.91.

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.