L. Roy Papp & Associates LLP Sells 220 Shares of ResMed Inc. (NYSE:RMD)

L. Roy Papp & Associates LLP reduced its holdings in ResMed Inc. (NYSE:RMD) by 2.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 8,140 shares of the medical equipment provider’s stock after selling 220 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in ResMed were worth $1,987,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RMD. OFI Invest Asset Management purchased a new position in ResMed during the 2nd quarter valued at $32,000. BOK Financial Private Wealth Inc. purchased a new stake in ResMed in the first quarter worth about $35,000. Versant Capital Management Inc boosted its position in ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares in the last quarter. Financial Connections Group Inc. purchased a new position in shares of ResMed during the 2nd quarter worth approximately $37,000. Finally, Blue Trust Inc. raised its position in shares of ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 137 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 7.1 %

Shares of RMD stock traded up $17.02 during mid-day trading on Friday, hitting $256.07. The company’s stock had a trading volume of 3,516,542 shares, compared to its average volume of 1,046,026. The stock has a market cap of $37.58 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 1.94 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $260.49. The business has a 50-day moving average price of $240.79 and a 200 day moving average price of $217.99.

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 analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted $1.64 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts predict that ResMed Inc. will post 9.08 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 yield of 0.83%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio is presently 30.59%.

Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 4,260 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the transaction, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,196,002.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of ResMed stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,196,002.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,874 shares of company stock valued at $28,151,142. 0.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RMD shares. Wolfe Research reissued an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Bank of America lifted their target price on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $220.55.

ResMed 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.