Cable Hill Partners LLC Acquires Shares of 865 ResMed Inc. (NYSE:RMD)

Cable Hill Partners LLC acquired a new stake in ResMed Inc. (NYSE:RMD) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 865 shares of the medical equipment provider’s stock, valued at approximately $211,000.

A number of other hedge funds have also recently modified their holdings of RMD. OFI Invest Asset Management purchased a new position in shares of ResMed in the 2nd quarter valued at $32,000. Ashton Thomas Securities LLC purchased a new position in shares of ResMed in the 3rd quarter valued at $34,000. Versant Capital Management Inc grew its position in shares of ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 120 shares during the last quarter. Financial Connections Group Inc. purchased a new position in shares of ResMed in the 2nd quarter valued at $37,000. Finally, Blue Trust Inc. grew its position in shares of ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 137 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the completion of the sale, the chief executive officer now directly owns 464,169 shares in the company, valued at $115,290,296.22. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the sale, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. This trade represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 63,056 shares of company stock worth $15,086,020. 0.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Royal Bank of Canada raised their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Wolfe Research reissued an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. KeyCorp raised their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Bank of America raised their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.70.

ResMed Stock Down 1.7 %

Shares of NYSE RMD opened at $231.43 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52 week low of $147.31 and a 52 week high of $260.49. The firm has a 50-day moving average price of $243.30 and a 200 day moving average price of $223.37. The stock has a market capitalization of $33.97 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 1.71 and a beta of 0.69.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating 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 firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business earned $1.64 earnings per share. 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 EPS for the current fiscal year.

ResMed Dividend Announcement

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

ResMed Company 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.