Ashton Thomas Securities LLC Acquires Shares of 141 ResMed Inc. (NYSE:RMD)

Ashton Thomas Securities LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 141 shares of the medical equipment provider’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in ResMed during the 2nd quarter worth approximately $32,000. Versant Capital Management Inc lifted its holdings in shares of ResMed by 196.7% during the second 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. bought a new stake in shares of ResMed in the second quarter valued at about $37,000. Blue Trust Inc. grew its stake in shares of ResMed by 182.7% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 137 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in ResMed during the second quarter worth about $44,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total value of $203,742.00. Following the sale, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. The trade was a 7.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the transaction, the director now owns 87,204 shares of the company’s stock, valued at $20,920,239.60. This trade represents a 2.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,056 shares of company stock worth $15,086,020. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Performance

NYSE RMD opened at $231.43 on Friday. ResMed Inc. has a fifty-two week low of $147.31 and a fifty-two week high of $260.49. The stock has a market cap of $33.97 billion, a PE ratio of 30.65, a PEG ratio of 1.81 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The firm’s fifty day moving average price is $243.30 and its two-hundred day moving average price is $223.37.

ResMed (NYSE:RMD) last posted its earnings results 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. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $1.64 earnings per share. On average, equities analysts expect that ResMed Inc. will post 9.22 EPS for the current fiscal year.

ResMed Announces Dividend

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. This represents a $2.12 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s payout ratio is 28.08%.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of analyst reports. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird raised their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Wolfe Research reissued an “underperform” rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Bank of America boosted their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $225.70.

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.