ResMed Inc. (NYSE:RMD) Shares Bought by Benjamin Edwards Inc.

Benjamin Edwards Inc. boosted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 8,951.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 36,024 shares of the medical equipment provider's stock after buying an additional 35,626 shares during the period. Benjamin Edwards Inc.'s holdings in ResMed were worth $8,794,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. True Wealth Design LLC raised its stake in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 110 shares during the period. OFI Invest Asset Management bought a new stake in ResMed in the second quarter worth about $32,000. Ashton Thomas Securities LLC purchased a new position in shares of ResMed during the third quarter valued at approximately $34,000. Versant Capital Management Inc grew its stake in shares of ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider's stock valued at $35,000 after buying an additional 120 shares during the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in shares of ResMed in the second quarter worth approximately $37,000. 54.98% of the stock is currently owned by institutional investors.

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 stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the sale, the chief executive officer now directly owns 464,169 shares of the company's stock, valued at $115,290,296.22. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the transaction, the director now directly owns 87,204 shares of the company's stock, valued at $20,920,239.60. The trade was a 2.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,408 shares of company stock worth $16,398,132. 0.71% of the stock is owned by company insiders.

ResMed Stock Up 1.4 %

NYSE RMD traded up $3.44 during trading on Tuesday, hitting $248.36. The company's stock had a trading volume of 166,061 shares, compared to its average volume of 1,030,062. ResMed Inc. has a fifty-two week low of $159.60 and a fifty-two week 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 company has a market cap of $36.46 billion, a PE ratio of 32.77, a P/E/G ratio of 1.81 and a beta of 0.68. The business's 50 day simple moving average is $242.21 and its 200-day simple moving average is $225.87.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 EPS. On average, equities analysts anticipate that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 0.85%. ResMed's dividend payout ratio (DPR) is presently 28.08%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RMD. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. 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 research note on Thursday, September 26th. Needham & Company LLC restated a "hold" rating on shares of ResMed in a report on Friday, October 25th. Robert W. Baird upped their target price on ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Finally, KeyCorp raised their price target on ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.70.

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.