Cerity Partners LLC Buys 6,167 Shares of ResMed Inc. (NYSE:RMD)

Cerity Partners LLC lifted its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 82.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,686 shares of the medical equipment provider's stock after purchasing an additional 6,167 shares during the period. Cerity Partners LLC's holdings in ResMed were worth $3,341,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in ResMed by 4.8% in the first quarter. Janus Henderson Group PLC now owns 19,516 shares of the medical equipment provider's stock worth $3,865,000 after acquiring an additional 902 shares during the period. Tidal Investments LLC raised its holdings in shares of ResMed by 58.2% in the 1st quarter. Tidal Investments LLC now owns 8,954 shares of the medical equipment provider's stock worth $1,773,000 after purchasing an additional 3,294 shares during the period. Swedbank AB bought a new stake in shares of ResMed in the 1st quarter worth approximately $13,510,000. Cetera Advisors LLC purchased a new position in ResMed in the first quarter valued at approximately $257,000. Finally, Keynote Financial Services LLC bought a new position in ResMed during the first quarter valued at $262,000. Institutional investors own 54.98% of the company's stock.

Analysts Set New Price Targets

RMD has been the topic of several research reports. KeyCorp boosted their target price on ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Baird R W raised shares of ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research note on Friday, October 25th. Bank of America upped 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. Finally, Royal Bank of Canada lifted their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $225.70.

Insider Activity

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 transaction, the chief executive officer now directly owns 464,169 shares of the company's stock, valued at approximately $115,290,296.22. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Witte Jan De sold 796 shares of the company's stock in a transaction that occurred 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 sale, the director now directly owns 6,723 shares of the company's stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,334 shares of company stock worth $16,379,713. 0.71% of the stock is currently owned by corporate insiders.

ResMed Price Performance

Shares of RMD stock traded down $0.31 on Friday, reaching $249.02. The company's stock had a trading volume of 351,327 shares, compared to its average volume of 1,035,809. The company has a market capitalization of $36.56 billion, a P/E ratio of 33.01, a PEG ratio of 1.81 and a beta of 0.69. ResMed Inc. has a 12-month low of $156.39 and a 12-month high of $260.49. The stock's 50 day simple moving average is $242.24 and its 200-day simple moving average is $225.60. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly 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. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 EPS. As a group, equities analysts predict that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is 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.