Pittenger & Anderson Inc. Grows Position in ResMed Inc. (NYSE:RMD)

Pittenger & Anderson Inc. lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,324 shares of the medical equipment provider’s stock after purchasing an additional 5,034 shares during the quarter. Pittenger & Anderson Inc.’s holdings in ResMed were worth $14,238,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in ResMed by 51.4% during 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. Los Angeles Capital Management LLC lifted its holdings in shares of ResMed by 48.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after acquiring an additional 241,195 shares during the last quarter. Greenvale Capital LLP lifted its holdings in shares of ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after acquiring an additional 275,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in ResMed by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after acquiring an additional 107,279 shares in the last quarter. Finally, Tandem Investment Advisors Inc. increased its stake in ResMed by 3.0% in the second quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider’s stock valued at $95,976,000 after acquiring an additional 14,590 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Trading Down 0.3 %

Shares of RMD opened at $243.61 on Tuesday. The stock has a market capitalization of $35.76 billion, a P/E ratio of 32.27, a PEG ratio of 1.79 and a beta of 0.69. ResMed Inc. has a twelve month low of $140.81 and a twelve 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. The firm has a fifty day simple moving average of $242.99 and a two-hundred day simple moving average of $220.75.

ResMed (NYSE:RMD) last posted 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 company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. ResMed’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 earnings per share. On average, research analysts anticipate that ResMed Inc. will post 9.22 EPS for the current year.

ResMed Announces Dividend

The firm 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 $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. ResMed’s dividend payout ratio is currently 28.08%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RMD shares. KeyCorp upped their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Baird R W raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Bank of America boosted their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada increased their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average target price of $225.70.

Insider Activity

In related news, insider Kaushik Ghoshal sold 5,000 shares of the firm’s 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 completion of the sale, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. 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 through this link. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $212.16, for a total transaction of $212,160.00. Following the transaction, the chief financial officer now owns 89,056 shares in the company, valued at approximately $18,894,120.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 three months, insiders have sold 75,874 shares of company stock valued at $17,731,782. Company insiders own 0.71% of the company’s stock.

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.