Empowered Funds LLC Has $2 Million Stock Position in ResMed Inc. (NYSE:RMD)

Empowered Funds LLC increased its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 284.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,208 shares of the medical equipment provider's stock after purchasing an additional 6,072 shares during the quarter. Empowered Funds LLC's holdings in ResMed were worth $2,004,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RMD. OFI Invest Asset Management bought a new stake in shares of ResMed during the second quarter worth $32,000. Ashton Thomas Securities LLC bought a new stake in ResMed during the 3rd quarter worth about $34,000. Versant Capital Management Inc grew its holdings in ResMed by 196.7% during the 2nd 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 in the 2nd quarter valued at about $37,000. Finally, Blue Trust Inc. raised its stake in shares of ResMed by 182.7% in 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. 54.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RMD shares. Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research report on Friday, October 25th. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. Wolfe Research reiterated an "underperform" rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Finally, Bank of America boosted their price objective on ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.70.

Insider Activity

In related news, CEO Michael J. Farrell sold 14,683 shares of the company's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $115,290,296.22. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Witte Jan De sold 796 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,174 shares of company stock valued at $14,882,278 over the last ninety days. 0.71% of the stock is currently owned by company insiders.

ResMed Trading Up 1.4 %

NYSE RMD opened at $241.55 on Thursday. The stock has a market capitalization of $35.46 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 1.73 and a beta of 0.69. ResMed Inc. has a 52 week low of $150.39 and a 52 week high of $260.49. The stock's 50 day moving average price is $242.10 and its two-hundred day moving average price is $224.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.64 earnings per share. As a group, analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. ResMed's dividend payout ratio is currently 28.08%.

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.