American Trust Makes New $690,000 Investment in ResMed Inc. (NYSE:RMD)

American Trust bought a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 2,828 shares of the medical equipment provider's stock, valued at approximately $690,000.

A number of other hedge funds have also made changes to their positions in RMD. Franklin Resources Inc. raised its position in ResMed by 56.5% in the 3rd quarter. Franklin Resources Inc. now owns 174,113 shares of the medical equipment provider's stock valued at $41,909,000 after purchasing an additional 62,882 shares during the last quarter. Tidal Investments LLC increased its stake in shares of ResMed by 738.4% in the third quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider's stock valued at $25,617,000 after buying an additional 92,422 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of ResMed in the third quarter valued at about $193,000. World Investment Advisors LLC acquired a new position in ResMed during the 3rd quarter worth about $541,000. Finally, Sanctuary Advisors LLC grew its holdings in ResMed by 19.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 7,265 shares of the medical equipment provider's stock worth $1,771,000 after acquiring an additional 1,197 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research analyst reports. Robert W. Baird boosted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Baird R W upgraded shares of ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. Wolfe Research reiterated an "underperform" rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. KeyCorp boosted their target price on ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Finally, Needham & Company LLC reaffirmed 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, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $227.91.

ResMed Trading Down 1.6 %

NYSE:RMD traded down $3.99 during mid-day trading on Friday, hitting $238.52. The company had a trading volume of 580,589 shares, compared to its average volume of 1,019,118. The firm has a market cap of $35.01 billion, a P/E ratio of 31.59, a P/E/G ratio of 1.78 and a beta of 0.68. ResMed Inc. has a fifty-two week low of $164.12 and a fifty-two week high of $260.49. The business's fifty day moving average is $242.75 and its two-hundred day moving average is $227.45. 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 - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping 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 analyst estimates of $1.19 billion. During the same quarter last year, the firm earned $1.64 EPS. ResMed's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts expect that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, November 7th. ResMed's dividend payout ratio (DPR) is 28.08%.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the transaction, the director now owns 81,218 shares in the company, valued at $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 on Monday, October 7th. The stock was 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 approximately $107,645,432.79. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,725 shares of company stock worth $11,253,448 in the last quarter. Corporate insiders own 0.71% of the company's stock.

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.