Meeder Asset Management Inc. Buys 3,174 Shares of ResMed Inc. (NYSE:RMD)

Meeder Asset Management Inc. lifted its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 7,381.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,217 shares of the medical equipment provider's stock after acquiring an additional 3,174 shares during the period. Meeder Asset Management Inc.'s holdings in ResMed were worth $785,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Caprock Group LLC raised its position in ResMed by 95.9% in the third quarter. Caprock Group LLC now owns 5,732 shares of the medical equipment provider's stock valued at $1,399,000 after purchasing an additional 2,806 shares during the period. Mawer Investment Management Ltd. raised its holdings in shares of ResMed by 3.2% during the 3rd quarter. Mawer Investment Management Ltd. now owns 76,554 shares of the medical equipment provider's stock valued at $18,688,000 after buying an additional 2,394 shares during the period. Quest Partners LLC lifted its position in ResMed by 472.5% during the 3rd quarter. Quest Partners LLC now owns 1,872 shares of the medical equipment provider's stock worth $457,000 after acquiring an additional 1,545 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in ResMed by 12.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider's stock worth $1,697,000 after acquiring an additional 755 shares during the period. Finally, Claro Advisors LLC grew its position in ResMed by 8.3% in the third quarter. Claro Advisors LLC now owns 4,153 shares of the medical equipment provider's stock valued at $1,014,000 after acquiring an additional 317 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Robert W. Baird upped their target price on ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Baird R W upgraded shares of ResMed to a "strong-buy" rating in a research note on Tuesday, September 24th. StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. Finally, KeyCorp upped their target price on shares of 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 assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $225.70.

Insider Buying and Selling at ResMed

In other news, insider Kaushik Ghoshal sold 5,000 shares of the 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 completion of the sale, the insider now owns 21,788 shares in the company, valued at approximately $5,502,777.28. This represents a 18.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $107,645,432.79. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,174 shares of company stock valued at $14,882,278. Company insiders own 0.71% of the company's stock.

ResMed Stock Performance

RMD traded up $3.43 during trading on Wednesday, reaching $241.55. 549,312 shares of the company were exchanged, compared to its average volume of 1,043,885. ResMed Inc. has a 52 week low of $150.39 and a 52 week high of $260.49. The stock has a market cap of $35.46 billion, a P/E ratio of 31.53, a PEG ratio of 1.71 and a beta of 0.69. 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 firm has a 50 day moving average of $242.33 and a 200 day moving average of $223.97.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data 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. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Dividend Announcement

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. This represents a $2.12 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, November 7th. ResMed's payout ratio is currently 28.08%.

ResMed Company 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.