Ascent Wealth Partners LLC Decreases Stock Position in ResMed Inc. (NYSE:RMD)

Ascent Wealth Partners LLC trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,918 shares of the medical equipment provider’s stock after selling 68 shares during the quarter. Ascent Wealth Partners LLC’s holdings in ResMed were worth $3,154,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of ResMed by 24.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after acquiring an additional 35,273 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of ResMed by 8.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 171,632 shares of the medical equipment provider’s stock worth $37,586,000 after purchasing an additional 13,894 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of ResMed by 211.1% during the first quarter. SG Americas Securities LLC now owns 19,625 shares of the medical equipment provider’s stock valued at $3,886,000 after purchasing an additional 13,316 shares during the period. iA Global Asset Management Inc. bought a new position in shares of ResMed in the first quarter worth about $3,055,000. Finally, Versor Investments LP increased its stake in ResMed by 327.3% in the 2nd quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock worth $900,000 after buying an additional 3,600 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

RMD stock traded down $1.58 during trading on Thursday, reaching $244.05. The company had a trading volume of 15,685 shares, compared to its average volume of 1,047,843. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a twelve month low of $140.81 and a twelve month high of $260.49. The company has a market cap of $35.83 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.69. The firm has a 50-day simple moving average of $243.12 and a 200-day simple moving average of $221.39.

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. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 EPS. As a group, sell-side analysts expect that ResMed Inc. will post 9.22 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.87%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Insiders Place Their Bets

In other news, insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the sale, the insider now owns 21,788 shares in the company, valued at $5,196,002.24. This represents 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 through the SEC website. In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,196,002.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $233.47, for a total value of $233,470.00. Following the completion of the sale, the chief financial officer now owns 95,812 shares in the company, valued at approximately $22,369,227.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,260 shares of company stock valued at $14,390,487. 0.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wolfe Research reissued an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Bank of America boosted their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada raised their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $225.70.

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.