Wahed Invest LLC Grows Position in ResMed Inc. (NYSE:RMD)

Wahed Invest LLC increased its holdings in ResMed Inc. (NYSE:RMD) by 9.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,530 shares of the medical equipment provider’s stock after purchasing an additional 300 shares during the period. Wahed Invest LLC’s holdings in ResMed were worth $862,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. UMB Bank n.a. grew its position in shares of ResMed by 1.9% in the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after purchasing an additional 47 shares during the period. Ascent Group LLC grew its position in shares of ResMed by 1.7% in the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after purchasing an additional 48 shares during the period. QRG Capital Management Inc. grew its position in shares of ResMed by 4.5% in the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock valued at $247,000 after purchasing an additional 56 shares during the period. Inspire Advisors LLC grew its position in ResMed by 1.9% during the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock valued at $586,000 after acquiring an additional 56 shares during the period. Finally, Concurrent Investment Advisors LLC grew its position in ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after acquiring an additional 57 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now directly owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Witte Jan De sold 796 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,408 shares of company stock worth $16,409,632. Insiders own 0.71% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $239.41 on Friday. ResMed Inc. has a 12-month low of $162.05 and a 12-month high of $260.49. The firm has a market capitalization of $35.15 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 1.80 and a beta of 0.68. The business has a 50 day simple moving average of $242.25 and a 200 day simple moving average of $226.30. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion during 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 for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 earnings per share. On average, equities research analysts anticipate that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RMD shares. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. KeyCorp boosted their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada boosted their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Wolfe Research restated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

ResMed Company 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.