World Investment Advisors LLC Purchases New Shares in ResMed Inc. (NYSE:RMD)

World Investment Advisors LLC acquired a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,216 shares of the medical equipment provider's stock, valued at approximately $541,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RMD. Wealth Enhancement Advisory Services LLC lifted its position in shares of ResMed by 5.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,378 shares of the medical equipment provider's stock valued at $1,030,000 after acquiring an additional 274 shares during the period. Blue Trust Inc. raised its position in ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 137 shares in the last quarter. Raymond James & Associates lifted its stake in ResMed by 208.2% during the second quarter. Raymond James & Associates now owns 20,180 shares of the medical equipment provider's stock worth $3,863,000 after purchasing an additional 13,633 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of ResMed in the 2nd quarter valued at $264,000. Finally, SeaCrest Wealth Management LLC increased its stake in shares of ResMed by 7.4% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,514 shares of the medical equipment provider's stock valued at $290,000 after purchasing an additional 104 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RMD has been the topic of several research reports. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. Stifel Nicolaus initiated coverage on shares of ResMed in a report on Friday, December 13th. They set a "hold" rating and a $250.00 price target for the company. KeyCorp upped their target price on ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research note on Friday, October 25th. Finally, Royal Bank of Canada upped their price objective on ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $227.91.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now directly owns 81,218 shares in the company, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Witte Jan De sold 796 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now owns 6,723 shares in the company, valued at approximately $1,672,749.63. This 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 47,725 shares of company stock worth $11,253,448. Corporate insiders own 0.71% of the company's stock.

ResMed Trading Down 5.1 %

RMD stock traded down $12.41 during trading on Wednesday, hitting $230.21. The company had a trading volume of 870,612 shares, compared to its average volume of 1,016,587. The business has a 50-day moving average of $242.91 and a 200-day moving average of $228.23. ResMed Inc. has a one year low of $164.12 and a one year high of $260.49. The stock has a market cap of $33.79 billion, a PE ratio of 30.49, a PEG ratio of 1.73 and a beta of 0.68. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating 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 period in the prior year, the business posted $1.64 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis. Research analysts predict that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Thursday, November 7th. ResMed's payout ratio is 28.08%.

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.