Stephens Inc. AR Acquires 11,638 Shares of ResMed Inc. (NYSE:RMD)

Stephens Inc. AR grew its stake in ResMed Inc. (NYSE:RMD - Free Report) by 25.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,459 shares of the medical equipment provider's stock after acquiring an additional 11,638 shares during the period. Stephens Inc. AR's holdings in ResMed were worth $14,027,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management bought a new position in ResMed during the second quarter worth about $32,000. Versant Capital Management Inc lifted its position in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider's stock worth $35,000 after acquiring an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in ResMed during the second quarter worth approximately $37,000. Blue Trust Inc. lifted its position in ResMed by 182.7% during 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. Finally, Rothschild Investment LLC acquired a new stake in ResMed during the second quarter worth approximately $44,000. Institutional investors own 54.98% of the company's stock.

ResMed Price Performance

RMD traded up $1.81 during trading on Friday, hitting $244.28. 1,118,394 shares of the stock traded hands, compared to its average volume of 1,086,462. ResMed Inc. has a twelve month low of $140.81 and a twelve month high of $260.49. The company has a market cap of $35.86 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.78 and a beta of 0.69. 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 business has a 50 day moving average price of $242.63 and a 200 day moving average price of $219.96.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. 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 earnings per share. The company's revenue was up 11.1% on a year-over-year basis. Equities research analysts forecast that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Announces Dividend

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

Insiders Place Their Bets

In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the business's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the sale, the insider now owns 21,788 shares of the company's stock, valued at approximately $5,196,002.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the business's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the sale, the insider now owns 21,788 shares of the company's stock, valued at approximately $5,196,002.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Justin Leong sold 48,000 shares of the business's stock in a transaction 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 sale, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,874 shares of company stock valued at $28,151,142. 0.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. Baird R W upgraded shares of ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. Wolfe Research reiterated an "underperform" rating and issued a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research report on Friday, October 25th. Finally, Robert W. Baird lifted their price target on shares of ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $225.70.

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.