Chevy Chase Trust Holdings LLC Has $19.26 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 1.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 78,899 shares of the medical equipment provider’s stock after selling 1,424 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of ResMed worth $19,261,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Ascent Group LLC increased its position in shares of ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after acquiring an additional 48 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in ResMed by 8,951.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 36,024 shares of the medical equipment provider’s stock worth $8,794,000 after purchasing an additional 35,626 shares during the period. Aureus Asset Management LLC bought a new position in ResMed during the 3rd quarter worth about $249,000. True Wealth Design LLC raised its stake in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the period. Finally, Morton Community Bank lifted its holdings in shares of ResMed by 1.6% in the third quarter. Morton Community Bank now owns 17,124 shares of the medical equipment provider’s stock valued at $4,180,000 after purchasing an additional 265 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of NYSE RMD opened at $246.91 on Wednesday. ResMed Inc. has a twelve month low of $159.60 and a twelve month high of $260.49. The company has a market cap of $36.25 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 1.78 and a beta of 0.68. The business’s 50 day moving average price is $242.21 and its two-hundred day moving average price is $226.07. 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 posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business earned $1.64 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts predict that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, November 7th. ResMed’s payout ratio is 28.08%.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the completion of the sale, the chief executive officer now owns 464,169 shares in the company, valued at $115,290,296.22. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,408 shares of company stock worth $15,918,332. Insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Robert W. Baird increased their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. KeyCorp raised their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Wolfe Research restated an “underperform” rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Royal Bank of Canada lifted 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. Finally, Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.