Private Trust Co. NA Raises Holdings in ResMed Inc. (NYSE:RMD)

Private Trust Co. NA lifted its position in shares of ResMed Inc. (NYSE:RMD) by 13.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,038 shares of the medical equipment provider’s stock after acquiring an additional 124 shares during the quarter. Private Trust Co. NA’s holdings in ResMed were worth $253,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after acquiring an additional 1,959,642 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of ResMed by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock valued at $225,578,000 after purchasing an additional 13,985 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after purchasing an additional 241,195 shares in the last quarter. Greenvale Capital LLP increased its holdings in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after buying an additional 275,000 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in ResMed by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after buying an additional 107,279 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $249.33 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 company’s fifty day moving average price is $242.15 and its 200-day moving average price is $225.38. ResMed Inc. has a 1-year low of $151.95 and a 1-year high of $260.49. The firm has a market capitalization of $36.60 billion, a PE ratio of 33.02, a price-to-earnings-growth ratio of 1.82 and a beta of 0.69.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the business earned $1.64 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared 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. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio is presently 28.08%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Bank of America boosted their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Wolfe Research reissued an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.70.

Insider Buying and Selling at ResMed

In other ResMed news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the transaction, the director now owns 6,723 shares in the company, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $231.91, for a total value of $3,405,134.53. Following the completion of the transaction, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at approximately $107,645,432.79. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,334 shares of company stock worth $16,379,713. Company insiders own 0.71% of the company’s stock.

ResMed 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.