Venturi Wealth Management LLC Grows Stock Holdings in ResMed Inc. (NYSE:RMD)

Venturi Wealth Management LLC lifted its position in ResMed Inc. (NYSE:RMD) by 55.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 341 shares of the medical equipment provider’s stock after buying an additional 122 shares during the quarter. Venturi Wealth Management LLC’s holdings in ResMed were worth $83,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its holdings in shares of ResMed by 1.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock valued at $631,000 after purchasing an additional 60 shares in the last quarter. Empowered Funds LLC grew its stake in shares of ResMed by 88.8% in the first quarter. Empowered Funds LLC now owns 2,764 shares of the medical equipment provider’s stock worth $547,000 after acquiring an additional 1,300 shares in the last quarter. Sei Investments Co. increased its position in shares of ResMed by 12.9% during the first quarter. Sei Investments Co. now owns 21,708 shares of the medical equipment provider’s stock worth $4,299,000 after acquiring an additional 2,484 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of ResMed in the first quarter valued at $245,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in ResMed by 9.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,262 shares of the medical equipment provider’s stock valued at $3,418,000 after purchasing an additional 1,447 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Down 1.7 %

RMD stock opened at $231.43 on Friday. The company has a market cap of $33.97 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 1.81 and a beta of 0.69. The company has a fifty day moving average price of $243.30 and a 200 day moving average price of $223.37. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. ResMed Inc. has a 12 month low of $147.31 and a 12 month high of $260.49.

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

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Insider Activity

In other news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the sale, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. This trade represents a 7.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,056 shares of company stock valued at $15,086,020 over the last quarter. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. KeyCorp upped their price target on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Robert W. Baird raised their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Wolfe Research reiterated an “underperform” rating and set a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.