National Bank of Canada FI Acquires 19,120 Shares of ResMed Inc. (NYSE:RMD)

National Bank of Canada FI grew its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 40.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,651 shares of the medical equipment provider's stock after buying an additional 19,120 shares during the period. National Bank of Canada FI's holdings in ResMed were worth $16,271,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RMD. UMB Bank n.a. boosted its holdings in ResMed by 1.9% in the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider's stock valued at $602,000 after purchasing an additional 47 shares during the period. Ascent Group LLC boosted its holdings in ResMed by 1.7% during the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider's stock valued at $714,000 after acquiring an additional 48 shares during the period. QRG Capital Management Inc. increased its position in shares of ResMed by 4.5% in the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider's stock valued at $247,000 after acquiring an additional 56 shares during the period. Inspire Advisors LLC boosted its holdings in ResMed by 1.9% in the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider's stock valued at $586,000 after acquiring an additional 56 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its position in shares of ResMed by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider's stock worth $469,000 after buying an additional 57 shares during the period. Institutional investors own 54.98% of the company's stock.

ResMed Stock Up 0.2 %

NYSE:RMD traded up $0.56 during trading hours on Wednesday, hitting $245.78. The company's stock had a trading volume of 511,807 shares, compared to its average volume of 1,021,356. The stock has a fifty day moving average of $242.57 and a 200-day moving average of $227.16. 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 stock has a market capitalization of $36.08 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 1.75 and a beta of 0.68. ResMed Inc. has a 52-week low of $163.43 and a 52-week high of $260.49.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share 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 firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm posted $1.64 EPS. ResMed's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts forecast that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Dividend Announcement

The firm 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 0.86%. The ex-dividend date is Thursday, November 7th. ResMed's dividend payout ratio (DPR) is 28.08%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Baird R W upgraded shares of ResMed to a "strong-buy" rating in a research note on Tuesday, September 24th. KeyCorp raised their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $225.70.

Insider Buying and Selling

In other news, CFO Brett Sandercock sold 1,000 shares of the business's stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $233.47, for a total transaction of $233,470.00. Following the completion of the transaction, the chief financial officer now owns 95,812 shares of the company's stock, valued at approximately $22,369,227.64. The trade was a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the transaction, the director now owns 81,218 shares of the company's stock, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,725 shares of company stock valued at $12,516,248. Insiders own 0.71% of the company's stock.

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.