Wahed Invest LLC Buys 300 Shares of ResMed Inc. (NYSE:RMD)

Wahed Invest LLC raised its stake in shares of ResMed Inc. (NYSE:RMD) by 9.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,530 shares of the medical equipment provider’s stock after buying an additional 300 shares during the period. Wahed Invest LLC’s holdings in ResMed were worth $862,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Versor Investments LP increased its stake in shares of ResMed by 327.3% in 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 stake in shares of ResMed by 245.2% in 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 purchasing an additional 23,801 shares during the period. Retireful LLC bought a new position in shares of ResMed in the third quarter worth about $742,000. Addenda Capital Inc. increased its stake in shares of ResMed by 17.4% in the second quarter. Addenda Capital Inc. now owns 58,986 shares of the medical equipment provider’s stock worth $11,291,000 after purchasing an additional 8,747 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of ResMed by 5.1% in the third quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after purchasing an additional 2,878 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 21,788 shares in the company, valued at $5,502,777.28. This represents a 18.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Monday, October 7th. The stock was 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. In the last ninety days, insiders sold 68,408 shares of company stock valued at $16,409,632. Company insiders own 0.71% of the company’s stock.

ResMed Price 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 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 moving average of $242.25 and a 200-day moving average of $226.30.

ResMed (NYSE:RMD) last announced its quarterly 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. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business earned $1.64 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

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 paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s payout ratio is presently 28.08%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Robert W. Baird lifted their target price on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating 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 research report on Thursday, September 26th. Finally, KeyCorp boosted their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.