Private Trust Co. NA Buys 124 Shares of ResMed Inc. (NYSE:RMD)

Private Trust Co. NA boosted its position in shares of ResMed Inc. (NYSE:RMD) by 13.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,038 shares of the medical equipment provider’s stock after acquiring an additional 124 shares during the period. Private Trust Co. NA’s holdings in ResMed were worth $253,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd raised its holdings in ResMed by 533.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 8,509 shares of the medical equipment provider’s stock valued at $2,077,000 after acquiring an additional 7,165 shares during the period. Fisher Asset Management LLC grew its position in shares of ResMed by 6.2% during the third quarter. Fisher Asset Management LLC now owns 26,727 shares of the medical equipment provider’s stock worth $6,525,000 after purchasing an additional 1,563 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in ResMed by 11.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 23,799 shares of the medical equipment provider’s stock valued at $5,810,000 after purchasing an additional 2,389 shares during the period. Summit Trail Advisors LLC lifted its holdings in ResMed by 15.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 1,497 shares of the medical equipment provider’s stock worth $365,000 after purchasing an additional 202 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in ResMed by 82.0% in the 3rd quarter. Cerity Partners LLC now owns 13,686 shares of the medical equipment provider’s stock worth $3,341,000 after purchasing an additional 6,167 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the topic of several recent analyst reports. Wolfe Research reiterated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Bank of America lifted their price target on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. KeyCorp increased 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. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Baird R W raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average target price of $225.70.

ResMed Stock Performance

NYSE RMD opened at $249.33 on Friday. The business’s 50 day moving average price is $242.15 and its 200-day moving average price is $225.38. ResMed Inc. has a fifty-two week low of $151.95 and a fifty-two week high of $260.49. The company has a market cap of $36.60 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.82 and a beta of 0.69. 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 (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts predict that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Insider Activity

In related news, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares in the company, valued at $5,502,777.28. The trade was a 18.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Justin Leong sold 6,160 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,334 shares of company stock valued at $16,379,713. 0.71% of the stock is currently owned by 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.