Vest Financial LLC Makes New Investment in ResMed Inc. $RMD

Vest Financial LLC bought a new stake in shares of ResMed Inc. (NYSE:RMD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 43,788 shares of the medical equipment provider’s stock, valued at approximately $11,986,000.

Other institutional investors have also modified their holdings of the company. SJS Investment Consulting Inc. grew its stake in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. WFA of San Diego LLC purchased a new position in shares of ResMed during the 2nd quarter valued at approximately $26,000. GoalVest Advisory LLC acquired a new stake in shares of ResMed during the third quarter worth approximately $37,000. Harbour Investments Inc. increased its stake in shares of ResMed by 264.2% in the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 177 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new stake in ResMed in the third quarter valued at $64,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $259.29 on Thursday. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07. The stock has a market cap of $37.84 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 1.70 and a beta of 0.88. The company has a 50-day moving average price of $249.74 and a two-hundred day moving average price of $263.26.

ResMed (NYSE:RMD) last released its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s dividend payout ratio is presently 24.56%.

Insider Activity

In related news, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the sale, the director directly owned 4,261 shares in the company, valued at $1,086,555. The trade was a 32.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,011 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the completion of the transaction, the chief executive officer owned 467,866 shares of the company’s stock, valued at $116,849,533.50. This represents a 1.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 21,594 shares of company stock valued at $5,403,495. Company insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Robert W. Baird reissued a “neutral” rating and set a $275.00 price objective (down from $300.00) on shares of ResMed in a report on Tuesday, December 16th. Weiss Ratings restated a “hold (c+)” rating on shares of ResMed in a research note on Monday, December 29th. Morgan Stanley set a $305.00 price target on shares of ResMed in a research report on Friday, October 31st. Stifel Nicolaus decreased their price target on ResMed from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Finally, KeyCorp upped their price objective on ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.09.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.