ResMed Inc. (NYSE:RMD) Shares Acquired by Valley National Advisers Inc.

Valley National Advisers Inc. lifted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 12,805.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,098 shares of the medical equipment provider's stock after acquiring an additional 7,043 shares during the period. Valley National Advisers Inc.'s holdings in ResMed were worth $1,732,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of RMD. UMB Bank n.a. raised its stake in ResMed by 1.9% during the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider's stock worth $602,000 after purchasing an additional 47 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in ResMed by 3.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider's stock valued at $292,000 after acquiring an additional 52 shares during the last quarter. QRG Capital Management Inc. grew its position in ResMed by 4.5% during 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 increased its stake in ResMed by 1.9% during the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider's stock worth $586,000 after acquiring an additional 56 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of ResMed by 1.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider's stock worth $631,000 after purchasing an additional 60 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other ResMed news, insider Justin Leong sold 48,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the transaction, the insider now owns 18,741 shares of the company's stock, valued at $4,068,108.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $214.25, for a total value of $3,145,832.75. Following the transaction, the chief executive officer now owns 440,799 shares of the company's stock, valued at $94,441,185.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Justin Leong sold 48,000 shares of the company's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares of the company's stock, valued at $4,068,108.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,874 shares of company stock valued at $28,151,142. Insiders own 1.21% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on RMD shares. Baird R W raised shares of ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. Robert W. Baird raised their target price on shares of ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research note on Friday. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. Wolfe Research reissued an "underperform" rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada upped their target price on ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $220.55.

ResMed Stock Up 7.1 %

NYSE RMD traded up $17.02 during mid-day trading on Friday, reaching $256.07. 3,516,542 shares of the company's stock traded hands, compared to its average volume of 1,046,026. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $260.49. The company has a fifty day simple moving average of $240.79 and a 200-day simple moving average of $217.99. The company has a market cap of $37.62 billion, a price-to-earnings ratio of 39.33, a P/E/G ratio of 1.94 and a beta of 0.69.

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, topping analysts' consensus estimates of $2.03 by $0.17. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company earned $1.64 earnings per share. The business's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that ResMed Inc. will post 9.08 EPS for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. ResMed's dividend payout ratio (DPR) is presently 32.57%.

ResMed 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.