1,105 Shares in ResMed Inc. (NYSE:RMD) Acquired by Avestar Capital LLC

Avestar Capital LLC acquired a new position in ResMed Inc. (NYSE:RMD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,105 shares of the medical equipment provider’s stock, valued at approximately $270,000.

Other hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in ResMed in the 2nd quarter worth approximately $32,000. Ashton Thomas Securities LLC purchased a new position in ResMed in the 3rd quarter worth approximately $34,000. Versant Capital Management Inc grew its position in ResMed by 196.7% in the 2nd 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 during the period. Financial Connections Group Inc. bought a new stake in ResMed in the 2nd quarter worth approximately $37,000. Finally, Blue Trust Inc. grew its position in 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 purchasing an additional 137 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Down 0.3 %

RMD opened at $249.33 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a fifty-two week low of $151.95 and a fifty-two week high of $260.49. The firm’s fifty day moving average is $242.03 and its 200 day moving average is $225.21. The stock has a market cap of $36.60 billion, a price-to-earnings ratio of 33.02, a price-to-earnings-growth ratio of 1.82 and a beta of 0.69.

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, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company 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 company earned $1.64 EPS. ResMed’s revenue for the quarter 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 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 paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.85%. The ex-dividend date is Thursday, November 7th. ResMed’s payout ratio is currently 28.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RMD shares. Bank of America lifted their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Robert W. Baird lifted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.70.

Insiders Place Their Bets

In other news, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $246.42, for a total transaction of $246,420.00. Following the sale, the chief financial officer now directly owns 96,812 shares in the company, valued at approximately $23,856,413.04. This represents a 1.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the sale, the chief executive officer now owns 464,169 shares in the company, valued at $107,645,432.79. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,334 shares of company stock worth $16,379,713 in the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

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.