ResMed Inc. (NYSE:RMD) Stock Holdings Increased by Claro Advisors LLC

Claro Advisors LLC lifted its stake in ResMed Inc. (NYSE:RMD) by 8.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,153 shares of the medical equipment provider’s stock after purchasing an additional 317 shares during the quarter. Claro Advisors LLC’s holdings in ResMed were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in RMD. iA Global Asset Management Inc. acquired a new position in ResMed during the first quarter valued at approximately $3,055,000. Versor Investments LP lifted its holdings in shares of ResMed by 327.3% during the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock valued at $900,000 after acquiring 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 valued at $6,414,000 after buying an additional 23,801 shares in the last quarter. 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 valued at $11,291,000 after buying an additional 8,747 shares in the last quarter. 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 valued at $14,369,000 after buying an additional 2,878 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $115,290,296.22. This represents a 3.07 % 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, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now owns 6,723 shares in the company, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,056 shares of company stock worth $15,086,020. 0.71% of the stock is owned by company insiders.

ResMed Stock Up 1.4 %

Shares of NYSE:RMD opened at $234.74 on Monday. The stock has a market cap of $34.46 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.71 and a beta of 0.69. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12-month low of $147.39 and a 12-month high of $260.49. The business’s 50 day moving average is $242.83 and its 200 day moving average is $223.67.

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

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a dividend of $0.53 per share. 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 0.90%. ResMed’s payout ratio is 28.08%.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of research reports. Robert W. Baird lifted 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. Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Royal Bank of Canada upped their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Wolfe Research reiterated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.