Metis Global Partners LLC Buys 317 Shares of ResMed Inc. (NYSE:RMD)

Metis Global Partners LLC grew its stake in shares of ResMed Inc. (NYSE:RMD) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,790 shares of the medical equipment provider’s stock after purchasing an additional 317 shares during the period. Metis Global Partners LLC’s holdings in ResMed were worth $1,658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. iA Global Asset Management Inc. bought a new stake in ResMed during the 1st quarter valued at approximately $3,055,000. Versor Investments LP lifted its stake in shares of ResMed by 327.3% in the 2nd quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock valued at $900,000 after purchasing an additional 3,600 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of ResMed by 245.2% during 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 purchasing an additional 23,801 shares in the last quarter. Addenda Capital Inc. grew its stake in ResMed by 17.4% in the second quarter. Addenda Capital Inc. now owns 58,986 shares of the medical equipment provider’s stock worth $11,291,000 after purchasing an additional 8,747 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in 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 worth $14,369,000 after purchasing an additional 2,878 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 1.4 %

Shares of ResMed stock opened at $234.74 on Friday. 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 fifty day moving average of $242.83 and a 200 day moving average of $223.55. The company has a market capitalization of $34.46 billion, a P/E ratio of 31.09, 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 released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (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 quarter last year, the business posted $1.64 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird boosted their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. KeyCorp raised their price objective on 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 raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.70.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the sale, the general counsel now owns 10,512 shares in the company, valued at $2,428,272. The trade was a 7.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the transaction, the chief executive officer now owns 464,169 shares of the company’s stock, valued at approximately $115,290,296.22. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,056 shares of company stock worth $15,086,020. 0.71% of the stock is owned by insiders.

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.