Summit Trail Advisors LLC Raises Stock Holdings in ResMed Inc. (NYSE:RMD)

Summit Trail Advisors LLC boosted its holdings in ResMed Inc. (NYSE:RMD) by 15.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,497 shares of the medical equipment provider’s stock after purchasing an additional 202 shares during the period. Summit Trail Advisors LLC’s holdings in ResMed were worth $365,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RMD. Cerity Partners LLC lifted its holdings in ResMed by 82.0% during the 3rd quarter. Cerity Partners LLC now owns 13,686 shares of the medical equipment provider’s stock worth $3,341,000 after buying an additional 6,167 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ResMed by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after buying an additional 13,985 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in ResMed by 23.0% during the 3rd quarter. Pacer Advisors Inc. now owns 29,347 shares of the medical equipment provider’s stock worth $7,164,000 after buying an additional 5,483 shares during the last quarter. Cypress Capital Group bought a new position in ResMed during the 3rd quarter worth approximately $226,000. Finally, Landscape Capital Management L.L.C. lifted its holdings in ResMed by 123.2% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 12,916 shares of the medical equipment provider’s stock worth $3,153,000 after buying an additional 7,128 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.3 %

RMD opened at $249.33 on Thursday. ResMed Inc. has a 12 month low of $151.95 and a 12 month high of $260.49. 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 cap of $36.60 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.82 and a beta of 0.69. The stock’s 50 day moving average price is $242.03 and its 200 day moving average price is $225.21.

ResMed (NYSE:RMD) last posted 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. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm earned $1.64 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, research analysts predict that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.85%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio is currently 28.08%.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of research analyst reports. KeyCorp increased their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One equities 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $231.91, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Justin Leong sold 6,160 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the transaction, the insider now directly owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,334 shares of company stock worth $16,379,713 in the last three months. 0.71% of the stock is owned by company insiders.

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.