iA Global Asset Management Inc. Has $1.40 Million Stock Position in ResMed Inc. (NYSE:RMD)

iA Global Asset Management Inc. trimmed its position in ResMed Inc. (NYSE:RMD - Free Report) by 77.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,740 shares of the medical equipment provider's stock after selling 20,191 shares during the period. iA Global Asset Management Inc.'s holdings in ResMed were worth $1,401,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its holdings 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 buying an additional 110 shares in the last quarter. OFI Invest Asset Management acquired a new stake in ResMed during the 2nd quarter valued at $32,000. Ashton Thomas Securities LLC acquired a new position in shares of ResMed in the third quarter worth $34,000. Financial Connections Group Inc. acquired a new position in shares of ResMed in the second quarter worth $37,000. Finally, Blue Trust Inc. increased its stake in shares of ResMed by 182.7% in 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. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other ResMed news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares of the company's stock, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction on 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 directly owns 21,788 shares of the company's stock, valued at $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 52,725 shares of company stock valued at $12,516,248 over the last three months. 0.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a report on Friday, October 25th. StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. Robert W. Baird upped their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Finally, KeyCorp upped their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, ResMed has an average rating of "Moderate Buy" and an average price target of $225.70.

ResMed Price Performance

NYSE:RMD traded up $3.22 during mid-day trading on Monday, hitting $244.63. The company's stock had a trading volume of 583,145 shares, compared to its average volume of 1,025,651. ResMed Inc. has a fifty-two week low of $162.18 and a fifty-two week high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $35.91 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 1.75 and a beta of 0.68. The stock has a fifty day moving average of $242.31 and a 200-day moving average of $226.81.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 earnings per share. As a group, equities analysts forecast that ResMed Inc. will post 9.34 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. 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.