Pacer Advisors Inc. Has $7.16 Million Stake in ResMed Inc. (NYSE:RMD)

Pacer Advisors Inc. grew its stake in shares of ResMed Inc. (NYSE:RMD) by 23.0% in the third quarter, Holdings Channel reports. The institutional investor owned 29,347 shares of the medical equipment provider’s stock after purchasing an additional 5,483 shares during the period. Pacer Advisors Inc.’s holdings in ResMed were worth $7,164,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in shares of ResMed in the 2nd quarter worth approximately $32,000. Ashton Thomas Securities LLC bought a new position in ResMed in the third quarter worth $34,000. Versant Capital Management Inc boosted its stake 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 buying an additional 120 shares in the last quarter. Financial Connections Group Inc. bought a new stake in ResMed in the 2nd quarter valued at $37,000. Finally, Blue Trust Inc. raised 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 buying an additional 137 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

RMD opened at $243.78 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The stock has a market capitalization of $35.79 billion, a P/E ratio of 32.29, a price-to-earnings-growth ratio of 1.77 and a beta of 0.69. The company’s 50 day simple moving average is $241.86 and its 200-day simple moving average is $224.47. ResMed Inc. has a one year low of $151.95 and a one year high of $260.49.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.64 EPS. Sell-side analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.87%. ResMed’s payout ratio is presently 28.08%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Witte Jan De sold 796 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares in the company, valued at $5,502,777.28. This represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,174 shares of company stock worth $14,882,278. Company insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wolfe Research reissued an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Bank of America upped their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Baird R W upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Royal Bank of Canada upped their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.