ResMed Inc. (NYSE:RMD) Shares Acquired by SkyView Investment Advisors LLC

SkyView Investment Advisors LLC increased its position in shares of ResMed Inc. (NYSE:RMD) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,610 shares of the medical equipment provider’s stock after acquiring an additional 51 shares during the period. SkyView Investment Advisors LLC’s holdings in ResMed were worth $637,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after purchasing an additional 1,959,642 shares during the last quarter. Marshall Wace LLP acquired a new stake in ResMed during the second quarter worth about $77,285,000. Geode Capital Management LLC increased its holdings in shares of ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after acquiring an additional 380,383 shares during the period. Greenvale Capital LLP grew its stake in shares of ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after purchasing an additional 275,000 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in ResMed by 726.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after purchasing an additional 249,454 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $242.51 on Friday. The stock has a market cap of $35.60 billion, a P/E ratio of 32.12, a P/E/G ratio of 1.78 and a beta of 0.68. The business’s fifty day moving average is $242.57 and its 200 day moving average is $227.16. ResMed Inc. has a 12-month low of $164.12 and a 12-month high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (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 company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company posted $1.64 earnings per share. ResMed’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts anticipate that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s payout ratio is currently 28.08%.

Insider Buying and Selling at ResMed

In related news, insider Justin Leong sold 6,160 shares of ResMed 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 owns 21,718 shares in the company, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $237.20, for a total value of $474,400.00. Following the transaction, the director now owns 85,204 shares in the company, valued at approximately $20,210,388.80. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,725 shares of company stock valued at $11,253,448 in the last 90 days. 0.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RMD has been the subject of several research reports. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. KeyCorp increased their price target on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Robert W. Baird increased their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $225.70.

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.