ResMed Inc. (NYSE:RMD) Shares Bought by Inspire Investing LLC

Inspire Investing LLC grew its holdings in ResMed Inc. (NYSE:RMD) by 5.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 22,591 shares of the medical equipment provider’s stock after acquiring an additional 1,204 shares during the quarter. ResMed comprises 0.6% of Inspire Investing LLC’s investment portfolio, making the stock its 29th biggest holding. Inspire Investing LLC’s holdings in ResMed were worth $5,515,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of ResMed by 24.9% in the 1st 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 period. Mediolanum International Funds Ltd acquired a new position in ResMed during the first quarter worth $2,246,000. Janney Montgomery Scott LLC boosted its position in shares of ResMed by 5.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock worth $16,102,000 after buying an additional 4,075 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of ResMed by 3,599.0% in the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after purchasing an additional 485,540 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in ResMed during the fourth quarter worth $7,535,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

Shares of NYSE RMD opened at $240.51 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $236.35 and its two-hundred day moving average price is $214.48. The stock has a market capitalization of $35.33 billion, a P/E ratio of 36.94, a P/E/G ratio of 2.14 and a beta of 0.69. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $255.18.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the business earned $1.60 earnings per share. ResMed’s revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that ResMed Inc. will post 9.02 earnings per share for the current year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is currently 32.57%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America upped their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Tuesday, October 1st. Finally, Robert W. Baird began coverage on ResMed in a research note on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

Insider Buying and Selling at ResMed

In other news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were 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 directly owns 21,788 shares in the company, valued at $5,502,777.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $212.16, for a total transaction of $212,160.00. Following the transaction, the chief financial officer now directly owns 89,056 shares of the company’s stock, valued at $18,894,120.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the sale, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,614 shares of company stock valued at $27,135,217. Company insiders own 1.21% 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. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.