ResMed Inc. (NYSE:RMD) Shares Sold by Marshall Financial Group LLC

Marshall Financial Group LLC lessened its stake in ResMed Inc. (NYSE:RMD) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,823 shares of the medical equipment provider’s stock after selling 82 shares during the period. Marshall Financial Group LLC’s holdings in ResMed were worth $2,642,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bleakley Financial Group LLC lifted its stake in shares of ResMed by 3.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,234 shares of the medical equipment provider’s stock valued at $545,000 after purchasing an additional 78 shares during the period. Patton Fund Management Inc. purchased a new position in ResMed in the third quarter valued at $6,047,000. nVerses Capital LLC increased its holdings in ResMed by 269.2% in the third quarter. nVerses Capital LLC now owns 4,800 shares of the medical equipment provider’s stock valued at $1,172,000 after buying an additional 3,500 shares in the last quarter. Hengehold Capital Management LLC acquired a new position in shares of ResMed in the third quarter worth about $213,000. Finally, Indiana Trust & Investment Management Co purchased a new stake in shares of ResMed during the 3rd quarter worth about $98,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. KeyCorp boosted their price objective on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Robert W. Baird started coverage on ResMed in a research report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 target price on the stock. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada upped their price objective on shares of ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

ResMed Price Performance

ResMed stock opened at $239.69 on Friday. The company has a fifty day simple moving average of $238.31 and a 200-day simple moving average of $215.53. 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 has a market capitalization of $35.18 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.17 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 data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. ResMed’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.60 EPS. On average, equities analysts anticipate that ResMed Inc. will post 9.02 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio (DPR) is currently 30.59%.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $214.25, for a total value of $3,145,832.75. Following the completion of the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at $94,441,185.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $214.25, for a total transaction of $3,145,832.75. Following the transaction, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $94,441,185.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,874 shares of company stock worth $28,151,142. 0.71% of the stock is owned by corporate insiders.

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.