ResMed Inc. (NYSE:RMD) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lowered its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 567,468 shares of the medical equipment provider's stock after selling 4,819 shares during the period. Congress Asset Management Co. owned 0.39% of ResMed worth $138,530,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. increased its position in ResMed by 11.6% during the third quarter. First Trust Direct Indexing L.P. now owns 5,446 shares of the medical equipment provider's stock worth $1,329,000 after purchasing an additional 568 shares during the last quarter. Integrated Advisors Network LLC acquired a new stake in shares of ResMed during the 3rd quarter worth $224,000. abrdn plc raised its position in shares of ResMed by 9.2% in the 3rd quarter. abrdn plc now owns 397,810 shares of the medical equipment provider's stock worth $96,284,000 after buying an additional 33,451 shares during the period. Smith Group Asset Management LLC boosted its holdings in ResMed by 286.3% in the third quarter. Smith Group Asset Management LLC now owns 7,610 shares of the medical equipment provider's stock valued at $1,858,000 after acquiring an additional 5,640 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its position in ResMed by 56.0% during the third quarter. Pallas Capital Advisors LLC now owns 2,017 shares of the medical equipment provider's stock valued at $482,000 after acquiring an additional 724 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the firm's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the transaction, the insider now owns 21,788 shares of the company's stock, valued at $5,196,002.24. 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. In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the sale, the insider now directly owns 21,788 shares of the company's stock, valued at $5,196,002.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Justin Leong sold 48,000 shares of the business's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares of the company's stock, valued at approximately $4,068,108.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 123,874 shares of company stock valued at $28,151,142. Company insiders own 0.71% of the company's stock.

ResMed Stock Down 0.2 %

NYSE:RMD traded down $0.55 during mid-day trading on Thursday, reaching $242.47. The stock had a trading volume of 1,165,516 shares, compared to its average volume of 1,052,514. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The company has a market capitalization of $35.59 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 2.05 and a beta of 0.69. ResMed Inc. has a 1-year low of $138.55 and a 1-year high of $260.49. The stock's 50 day simple moving average is $241.90 and its two-hundred day simple moving average is $219.15.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results 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 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 business earned $1.64 EPS. The business's quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts anticipate that ResMed Inc. will post 9.16 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. ResMed's payout ratio is currently 28.08%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. Wolfe Research reaffirmed an "underperform" rating and set a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Bank of America raised their target price 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. Robert W. Baird upped their price target on shares of ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Finally, Baird R W raised ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. One investment 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. Based on data from MarketBeat, ResMed has a consensus rating of "Moderate Buy" and an average price target of $225.70.

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.