W.G. Shaheen & Associates DBA Whitney & Co Raises Stock Position in ResMed Inc. (NYSE:RMD)

W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of ResMed Inc. (NYSE:RMD) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,455 shares of the medical equipment provider’s stock after acquiring an additional 1,111 shares during the period. ResMed accounts for about 1.5% of W.G. Shaheen & Associates DBA Whitney & Co’s holdings, making the stock its 25th biggest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in ResMed were worth $14,026,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in ResMed in the 3rd quarter worth approximately $34,000. OFI Invest Asset Management purchased a new position in ResMed in the 2nd quarter worth approximately $32,000. Versant Capital Management Inc grew its stake in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 120 shares in the last quarter. Financial Connections Group Inc. purchased a new position in ResMed in the 2nd quarter worth approximately $37,000. Finally, Blue Trust Inc. grew its stake in ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 2.0 %

NYSE:RMD opened at $239.42 on Tuesday. The company has a fifty day moving average of $242.62 and a 200 day moving average of $223.82. ResMed Inc. has a 52 week low of $148.03 and a 52 week 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 $35.15 billion, a P/E ratio of 31.71, a P/E/G ratio of 1.71 and a beta of 0.69.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $1.64 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, research analysts predict that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

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 of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.89%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Insiders Place Their Bets

In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $233.47, for a total value of $233,470.00. Following the completion of the transaction, the chief financial officer now directly owns 95,812 shares in the company, valued at approximately $22,369,227.64. This represents a 1.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the completion of the transaction, the chief executive officer now owns 464,169 shares of the company’s stock, valued at $115,290,296.22. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,174 shares of company stock worth $14,882,278. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of research reports. KeyCorp boosted their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Bank of America boosted their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Robert W. Baird boosted their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus 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.