Wilmington Savings Fund Society FSB Acquires Shares of 789 ResMed Inc. (NYSE:RMD)

Wilmington Savings Fund Society FSB bought a new position in ResMed Inc. (NYSE:RMD) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 789 shares of the medical equipment provider’s stock, valued at approximately $193,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. World Investment Advisors LLC acquired a new position in ResMed during the third quarter worth $541,000. Sanctuary Advisors LLC raised its holdings in shares of ResMed by 19.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 7,265 shares of the medical equipment provider’s stock worth $1,771,000 after acquiring an additional 1,197 shares during the period. SkyView Investment Advisors LLC grew its holdings in shares of ResMed by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after purchasing an additional 51 shares during the period. Toronto Dominion Bank increased its position in ResMed by 15.1% during the third quarter. Toronto Dominion Bank now owns 49,250 shares of the medical equipment provider’s stock worth $12,023,000 after purchasing an additional 6,476 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in ResMed by 10.1% during the third quarter. Coldstream Capital Management Inc. now owns 3,025 shares of the medical equipment provider’s stock worth $736,000 after purchasing an additional 278 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ResMed

In related news, Director Witte Jan De sold 796 shares of the business’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 completion of the sale, the director now owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the transaction, the director now owns 81,218 shares in the company, valued at $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,725 shares of company stock valued at $11,253,448. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank of Canada increased 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. Robert W. Baird increased their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Wolfe Research restated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Finally, Stifel Nicolaus started coverage on ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.91.

ResMed Trading Down 5.1 %

Shares of RMD stock opened at $230.21 on Thursday. The stock has a market capitalization of $33.79 billion, a P/E ratio of 30.49, a price-to-earnings-growth ratio of 1.73 and a beta of 0.68. ResMed Inc. has a fifty-two week low of $164.12 and a fifty-two week high of $260.49. 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 50 day moving average price of $242.91 and a 200 day moving average price of $228.23.

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

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.92%. The ex-dividend date was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

About ResMed

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.