OmniStar Financial Group Inc. Takes Position in ResMed Inc. (NYSE:RMD)

OmniStar Financial Group Inc. acquired a new position in shares of ResMed Inc. (NYSE:RMD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,733 shares of the medical equipment provider’s stock, valued at approximately $912,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Aaron Wealth Advisors LLC bought a new stake in shares of ResMed during the third quarter worth $313,000. Claro Advisors LLC boosted its stake in ResMed by 67.4% in the 3rd quarter. Claro Advisors LLC now owns 6,422 shares of the medical equipment provider’s stock worth $1,568,000 after purchasing an additional 2,586 shares during the period. V Square Quantitative Management LLC increased its holdings in ResMed by 11.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,719 shares of the medical equipment provider’s stock worth $420,000 after purchasing an additional 171 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of ResMed by 2.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,548 shares of the medical equipment provider’s stock valued at $3,796,000 after purchasing an additional 313 shares during the period. Finally, Ellsworth Advisors LLC acquired a new stake in shares of ResMed in the 3rd quarter valued at about $4,917,000. 54.98% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In other ResMed news, insider Justin Leong sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other ResMed news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kaushik Ghoshal sold 5,000 shares of ResMed 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 sale, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,874 shares of company stock worth $28,151,142. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research reports. Bank of America increased their price objective on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. KeyCorp lifted their price objective on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Royal Bank of Canada raised their target price on shares of ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 1st. Finally, StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $218.18.

ResMed Stock Performance

NYSE:RMD traded up $0.01 on Friday, hitting $239.60. The company’s stock had a trading volume of 175,983 shares, compared to its average volume of 1,029,538. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The firm has a market capitalization of $35.17 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.17 and a beta of 0.69. The stock has a fifty day moving average of $238.31 and a two-hundred day moving average of $215.53. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business earned $1.60 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts predict 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 issued a dividend of $0.53 per share. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. ResMed’s payout ratio is presently 30.59%.

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.