Brooklyn Investment Group Invests $206,000 in ResMed Inc. (NYSE:RMD)

Brooklyn Investment Group bought a new stake in ResMed Inc. (NYSE:RMD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 843 shares of the medical equipment provider’s stock, valued at approximately $206,000.

A number of other institutional investors have also added to or reduced their stakes in RMD. iA Global Asset Management Inc. bought a new position in shares of ResMed in the 1st quarter valued at about $3,055,000. Versor Investments LP grew its holdings in ResMed by 327.3% during the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock worth $900,000 after purchasing an additional 3,600 shares during the period. Assenagon Asset Management S.A. increased its position in ResMed by 245.2% during the second quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider’s stock worth $6,414,000 after buying an additional 23,801 shares during the last quarter. Addenda Capital Inc. raised its stake in ResMed by 17.4% in the second quarter. Addenda Capital Inc. now owns 58,986 shares of the medical equipment provider’s stock valued at $11,291,000 after buying an additional 8,747 shares during the period. Finally, Retireful LLC bought a new stake in ResMed in the third quarter valued at approximately $742,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on RMD. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. 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 research report on Friday, October 25th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada upped their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $225.70.

ResMed Stock Up 0.2 %

NYSE RMD opened at $249.99 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a market cap of $36.70 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 1.82 and a beta of 0.69. The company has a 50 day moving average of $241.80 and a 200-day moving average of $225.04. ResMed Inc. has a 1-year low of $151.95 and a 1-year high of $260.49.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.64 EPS. On average, equities research analysts expect that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be paid 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 yield of 0.85%. ResMed’s payout ratio is 28.08%.

Insider Buying and Selling at ResMed

In related news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 21,788 shares in the company, valued at approximately $5,502,777.28. This trade represents a 18.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the transaction, the chief executive officer now owns 464,169 shares of the company’s stock, valued at approximately $107,645,432.79. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,334 shares of company stock valued at $16,379,713 in the last ninety days. 0.71% of the stock is currently owned by company insiders.

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.