Second Half Financial Partners LLC Makes New Investment in ResMed Inc. (NYSE:RMD)

Second Half Financial Partners LLC bought a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,144 shares of the medical equipment provider's stock, valued at approximately $523,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. iA Global Asset Management Inc. purchased a new stake in shares of ResMed during the 1st quarter worth $3,055,000. Versor Investments LP boosted its position in shares of ResMed by 327.3% during the 2nd quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider's stock worth $900,000 after acquiring an additional 3,600 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of ResMed by 245.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider's stock worth $6,414,000 after acquiring an additional 23,801 shares in the last quarter. Addenda Capital Inc. increased its holdings in shares of ResMed by 17.4% in the 2nd quarter. Addenda Capital Inc. now owns 58,986 shares of the medical equipment provider's stock valued at $11,291,000 after acquiring an additional 8,747 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of ResMed by 5.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider's stock worth $14,369,000 after acquiring an additional 2,878 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of NYSE RMD traded down $1.38 during midday trading on Tuesday, hitting $238.04. The company had a trading volume of 710,758 shares, compared to its average volume of 1,046,357. The business has a 50-day simple moving average of $242.62 and a two-hundred day simple moving average of $223.82. ResMed Inc. has a twelve month low of $148.03 and a twelve month high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $34.94 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 1.71 and a beta of 0.69.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the firm earned $1.64 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed's dividend payout ratio (DPR) is 28.08%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Robert W. Baird increased their price target on shares of 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 upgraded shares of ResMed to a "strong-buy" rating in a research note on Tuesday, September 24th. KeyCorp upped their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Bank of America lifted their target price on ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $225.70.

Insider Buying and Selling

In other ResMed 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brett Sandercock sold 1,000 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $246.42, for a total transaction of $246,420.00. Following the sale, the chief financial officer now directly owns 96,812 shares in the company, valued at $23,856,413.04. This represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,174 shares of company stock worth $14,882,278 in the last ninety days. Insiders own 0.71% of the company's stock.

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.