Retireful LLC Makes New $742,000 Investment in ResMed Inc. (NYSE:RMD)

Retireful LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,041 shares of the medical equipment provider's stock, valued at approximately $742,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of ResMed in the second quarter valued at approximately $32,000. Ashton Thomas Securities LLC purchased a new stake in ResMed in the 3rd quarter valued at about $34,000. Versant Capital Management Inc grew its holdings in ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 120 shares during the period. Financial Connections Group Inc. acquired a new stake in shares of ResMed during the 2nd quarter worth $37,000. Finally, Blue Trust Inc. increased its stake in ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider's stock worth $42,000 after acquiring an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of several analyst reports. Baird R W raised ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. Bank of America raised their target price on ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. KeyCorp raised their price target on ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Wolfe Research reissued an "underperform" rating and set a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Finally, Robert W. Baird lifted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $225.70.

Insider Buying and Selling

In related news, 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 completion of the sale, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $115,290,296.22. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 21,788 shares of the company's stock, valued at approximately $5,502,777.28. This represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,174 shares of company stock valued at $14,882,278 in the last 90 days. 0.71% of the stock is owned by insiders.

ResMed Stock Performance

RMD stock traded up $3.43 on Wednesday, reaching $241.55. 549,312 shares of the company were exchanged, compared to its average volume of 1,043,885. The stock's fifty day moving average price is $242.33 and its 200 day moving average price is $223.97. ResMed Inc. has a 12 month low of $150.39 and a 12 month high of $260.49. 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 firm has a market capitalization of $35.46 billion, a PE ratio of 31.53, a PEG ratio of 1.71 and a beta of 0.69.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. ResMed's quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts anticipate 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. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. ResMed's dividend payout ratio is presently 28.08%.

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.