Radnor Capital Management LLC Purchases Shares of 3,700 ResMed Inc. (NYSE:RMD)

Radnor Capital Management LLC acquired a new stake in shares of ResMed Inc. (NYSE:RMD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,700 shares of the medical equipment provider’s stock, valued at approximately $903,000.

Other large investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in ResMed by 24.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after acquiring an additional 35,273 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in ResMed by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 171,632 shares of the medical equipment provider’s stock worth $37,586,000 after purchasing an additional 13,894 shares in the last quarter. SG Americas Securities LLC raised its holdings in ResMed by 211.1% in the first quarter. SG Americas Securities LLC now owns 19,625 shares of the medical equipment provider’s stock valued at $3,886,000 after buying an additional 13,316 shares during the period. iA Global Asset Management Inc. acquired a new position in ResMed during the first quarter valued at approximately $3,055,000. Finally, Versor Investments LP grew its stake in ResMed by 327.3% during the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock worth $900,000 after buying an additional 3,600 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RMD shares. Robert W. Baird raised their target price 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. KeyCorp raised their price objective on ResMed from $251.00 to $266.00 and gave the company 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. Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

Insider Transactions at ResMed

In related news, General Counsel Michael J. Rider sold 882 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the sale, the general counsel now directly owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other ResMed 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 transaction of $203,742.00. Following the completion of the sale, the general counsel now owns 10,512 shares in the company, valued at $2,428,272. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the sale, the director now directly owns 87,204 shares in the company, valued at $20,920,239.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,260 shares of company stock worth $14,390,487. 0.71% of the stock is currently owned by corporate insiders.

ResMed Stock Down 0.0 %

RMD stock opened at $245.63 on Thursday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $243.12 and a 200-day simple moving average of $221.39. The company has a market capitalization of $36.06 billion, a P/E ratio of 32.53, a PEG ratio of 1.78 and a beta of 0.69. ResMed Inc. has a twelve month low of $140.81 and a twelve month high of $260.49.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm earned $1.64 EPS. The company’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts predict that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio is presently 28.08%.

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.