Archer Investment Corp Boosts Holdings in ResMed Inc. (NYSE:RMD)

Archer Investment Corp boosted its position in shares of ResMed Inc. (NYSE:RMD) by 5,159.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,157 shares of the medical equipment provider’s stock after buying an additional 1,135 shares during the quarter. Archer Investment Corp’s holdings in ResMed were worth $282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after acquiring an additional 1,959,642 shares during the period. Los Angeles Capital Management LLC lifted its stake in ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after acquiring an additional 241,195 shares during the period. Greenvale Capital LLP lifted its stake in ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after acquiring an additional 275,000 shares during the period. Dimensional Fund Advisors LP lifted its stake in ResMed by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after acquiring an additional 107,279 shares during the period. Finally, Tandem Investment Advisors Inc. lifted its stake in ResMed by 3.0% in the second quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider’s stock worth $95,976,000 after acquiring an additional 14,590 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the sale, the insider now directly owns 21,788 shares in the company, valued at $5,502,777.28. The trade was a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $248.38, for a total value of $3,646,963.54. Following the sale, the chief executive officer now owns 464,169 shares in the company, valued at approximately $115,290,296.22. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,056 shares of company stock valued at $15,086,020. 0.71% of the stock is owned by corporate insiders.

ResMed Trading Up 0.7 %

Shares of NYSE:RMD traded up $1.60 during midday trading on Friday, reaching $233.03. 95,337 shares of the company’s stock were exchanged, compared to its average volume of 1,044,558. The firm’s 50 day simple moving average is $243.03 and its two-hundred day simple moving average is $223.42. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The stock has a market cap of $34.21 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 1.71 and a beta of 0.69. ResMed Inc. has a fifty-two week low of $147.39 and a fifty-two week high of $260.49.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion during 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 company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $1.64 EPS. As a group, sell-side analysts forecast that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. ResMed’s payout ratio is currently 28.08%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America boosted their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. KeyCorp upped their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Royal Bank of Canada upped their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.70.

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.