Cerity Partners LLC Invests $234,000 in ResMed Inc. (NYSE:RMD)

Cerity Partners LLC purchased a new position in shares of ResMed Inc. (NYSE:RMDGet Rating) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 1,115 shares of the medical equipment provider’s stock, valued at approximately $234,000.

Several other institutional investors have also modified their holdings of the stock. Parallel Advisors LLC raised its holdings in shares of ResMed by 2.3% during the 2nd quarter. Parallel Advisors LLC now owns 1,949 shares of the medical equipment provider’s stock worth $409,000 after acquiring an additional 43 shares during the period. WoodTrust Financial Corp raised its holdings in shares of ResMed by 0.9% during the 2nd quarter. WoodTrust Financial Corp now owns 4,885 shares of the medical equipment provider’s stock worth $1,024,000 after acquiring an additional 45 shares during the period. River Wealth Advisors LLC raised its holdings in shares of ResMed by 2.5% during the 1st quarter. River Wealth Advisors LLC now owns 2,288 shares of the medical equipment provider’s stock worth $555,000 after acquiring an additional 55 shares during the period. Allworth Financial LP raised its holdings in shares of ResMed by 15.2% during the 2nd quarter. Allworth Financial LP now owns 440 shares of the medical equipment provider’s stock worth $92,000 after acquiring an additional 58 shares during the period. Finally, Brinker Capital Investments LLC raised its holdings in shares of ResMed by 0.9% during the 1st quarter. Brinker Capital Investments LLC now owns 6,428 shares of the medical equipment provider’s stock worth $1,559,000 after acquiring an additional 59 shares during the period. Hedge funds and other institutional investors own 65.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, October 28th. Jefferies Financial Group assumed coverage on ResMed in a research report on Wednesday, October 12th. They set a “hold” rating and a $245.00 price objective for the company. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. JPMorgan Chase & Co. downgraded ResMed from an “overweight” rating to a “neutral” rating in a research report on Friday, August 12th. Finally, Bank of America raised ResMed from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $245.00 to $260.00 in a research report on Thursday, October 20th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.00.

Insider Activity

In other news, CEO Michael J. Farrell sold 5,675 shares of ResMed stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $228.96, for a total value of $1,299,348.00. Following the completion of the transaction, the chief executive officer now owns 422,570 shares in the company, valued at approximately $96,751,627.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Michael J. Farrell sold 5,675 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $228.96, for a total transaction of $1,299,348.00. Following the completion of the sale, the chief executive officer now owns 422,570 shares in the company, valued at $96,751,627.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brett Sandercock sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $212.02, for a total value of $848,080.00. Following the sale, the chief financial officer now owns 106,303 shares of the company’s stock, valued at approximately $22,538,362.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,038 shares of company stock worth $15,986,201. 1.39% of the stock is currently owned by company insiders.

ResMed Stock Performance

NYSE RMD opened at $225.21 on Tuesday. The company has a market cap of $32.99 billion, a P/E ratio of 42.10, a P/E/G ratio of 1.44 and a beta of 0.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.94 and a quick ratio of 1.69. The stock has a 50-day moving average of $220.68 and a two-hundred day moving average of $218.68. ResMed Inc. has a 1-year low of $189.40 and a 1-year high of $268.77.

ResMed (NYSE:RMDGet Rating) last released its earnings results on Thursday, October 27th. The medical equipment provider reported $1.51 earnings per share for the quarter, meeting the consensus estimate of $1.51. The company had revenue of $950.30 million during the quarter, compared to the consensus estimate of $946.07 million. ResMed had a return on equity of 25.75% and a net margin of 21.70%. ResMed’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.51 EPS. As a group, analysts anticipate that ResMed Inc. will post 6.48 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, November 10th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Wednesday, November 9th. ResMed’s payout ratio is presently 32.90%.

ResMed Company Profile

(Get Rating)

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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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