Cape Cod Five Cents Savings Bank Has $6.53 Million Stake in ResMed Inc. (NYSE:RMD)

Cape Cod Five Cents Savings Bank lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,734 shares of the medical equipment provider’s stock after selling 1,928 shares during the quarter. Cape Cod Five Cents Savings Bank’s holdings in ResMed were worth $6,526,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of RMD. True Wealth Design LLC boosted its position in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of ResMed in the 3rd quarter worth $34,000. OFI Invest Asset Management purchased a new stake in shares of ResMed in the second quarter valued at about $32,000. Financial Connections Group Inc. bought a new position in shares of ResMed during the second quarter valued at about $37,000. Finally, Blue Trust Inc. boosted its holdings in ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity

In related news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 10.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total transaction of $474,400.00. Following the sale, the director now owns 85,204 shares of the company’s stock, valued at $20,210,388.80. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,725 shares of company stock valued at $12,516,248. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $241.41 on Monday. ResMed Inc. has a 52 week low of $162.05 and a 52 week 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 stock has a market cap of $35.44 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 1.75 and a beta of 0.68. The business has a 50-day simple moving average of $242.30 and a 200 day simple moving average of $226.57.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 earnings per share. On average, research analysts forecast that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Dividend Announcement

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 issued 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 0.88%. ResMed’s payout ratio is 28.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RMD. Wolfe Research restated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Bank of America upped their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. 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 research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.