Pittenger & Anderson Inc. Purchases 5,034 Shares of ResMed Inc. (NYSE:RMD)

Pittenger & Anderson Inc. grew its stake in ResMed Inc. (NYSE:RMD - Free Report) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,324 shares of the medical equipment provider's stock after purchasing an additional 5,034 shares during the period. Pittenger & Anderson Inc.'s holdings in ResMed were worth $14,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider's stock worth $1,105,022,000 after acquiring an additional 1,959,642 shares during the last quarter. Marshall Wace LLP acquired a new position in ResMed during the 2nd quarter worth $77,285,000. Greenvale Capital LLP lifted its holdings in ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock worth $138,780,000 after buying an additional 275,000 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in ResMed by 48.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider's stock worth $141,694,000 after buying an additional 241,195 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in ResMed during the 2nd quarter worth $42,036,000. 54.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the sale, the director now directly owns 87,204 shares of the company's stock, valued at approximately $20,920,239.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $214.25, for a total transaction of $3,145,832.75. Following the transaction, the chief executive officer now owns 440,799 shares in the company, valued at $94,441,185.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the transaction, the director now owns 87,204 shares in the company, valued at approximately $20,920,239.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,943 shares of company stock valued at $17,748,480. Insiders own 0.71% of the company's stock.

ResMed Stock Up 0.9 %

Shares of NYSE RMD traded up $2.13 during mid-day trading on Tuesday, hitting $245.74. The company had a trading volume of 1,013,357 shares, compared to its average volume of 1,053,802. ResMed Inc. has a one year low of $140.81 and a one year high of $260.49. The company has a market capitalization of $36.07 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.79 and a beta of 0.69. The firm has a 50-day simple moving average of $243.06 and a two-hundred day simple moving average of $221.22. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. ResMed's revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $1.64 EPS. On average, equities analysts expect that ResMed Inc. will post 9.22 EPS for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued 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 0.86%. ResMed's payout ratio is currently 28.08%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on RMD shares. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. Bank of America increased their price target on 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 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. Baird R W raised ResMed to a "strong-buy" rating in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ResMed has an average rating of "Moderate Buy" and a consensus price target of $225.70.

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.