Aureus Asset Management LLC Purchases New Shares in ResMed Inc. (NYSE:RMD)

Aureus Asset Management LLC bought a new stake in ResMed Inc. (NYSE:RMD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,022 shares of the medical equipment provider’s stock, valued at approximately $249,000.

A number of other large investors have also modified their holdings of the business. True Wealth Design LLC lifted its stake in shares of ResMed by 2,200.0% in the third 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. OFI Invest Asset Management purchased a new position in ResMed in the 2nd quarter valued at approximately $32,000. Ashton Thomas Securities LLC acquired a new position in ResMed during the third quarter worth $34,000. Versant Capital Management Inc boosted its position in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in ResMed in the second quarter valued at $37,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In other news, Director Witte Jan De sold 796 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares in the company, valued at $5,279,428.62. The trade was a 22.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,408 shares of company stock worth $16,398,132. 0.71% of the stock is owned by company insiders.

ResMed Trading Down 1.7 %

Shares of RMD opened at $244.83 on Tuesday. ResMed Inc. has a fifty-two week low of $159.60 and a fifty-two week high of $260.49. The stock has a fifty day moving average of $242.21 and a two-hundred day moving average of $225.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The company has a market capitalization of $35.94 billion, a PE ratio of 32.43, a price-to-earnings-growth ratio of 1.81 and a beta of 0.68.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.64 earnings per share. As a group, analysts forecast 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 given a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. ResMed’s dividend payout ratio is presently 28.08%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. KeyCorp increased their price target on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Baird R W upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Bank of America upped their target price on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One investment 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 company. According to MarketBeat.com, the company presently 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.