Beck Bode LLC Acquires 1,815 Shares of ResMed Inc. (NYSE:RMD)

Beck Bode LLC raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,873 shares of the medical equipment provider’s stock after purchasing an additional 1,815 shares during the quarter. ResMed makes up 1.4% of Beck Bode LLC’s holdings, making the stock its 28th biggest position. Beck Bode LLC’s holdings in ResMed were worth $3,225,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Westside Investment Management Inc. bought a new position in shares of ResMed in the second quarter valued at about $26,000. Squar Milner Financial Services LLC lifted its stake in shares of ResMed by 342.9% during the 3rd quarter. Squar Milner Financial Services LLC now owns 217 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 168 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of ResMed during the 2nd quarter worth about $40,000. CSat Investment Advisory L.P. lifted its stake in shares of ResMed by 97.0% during the 2nd quarter. CSat Investment Advisory L.P. now owns 388 shares of the medical equipment provider’s stock worth $47,000 after buying an additional 191 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in shares of ResMed by 26.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 392 shares of the medical equipment provider’s stock worth $53,000 after buying an additional 81 shares during the period. 66.48% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have weighed in on RMD shares. ValuEngine cut shares of ResMed from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Finally, KeyCorp initiated coverage on ResMed in a report on Friday, November 22nd. They set a “sector weight” rating for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. ResMed presently has a consensus rating of “Buy” and a consensus target price of $121.50.

In other ResMed news, insider David Pendarvis sold 4,367 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $147.85, for a total transaction of $645,660.95. Following the transaction, the insider now owns 128,781 shares in the company, valued at approximately $19,040,270.85. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 1,370 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $149.26, for a total transaction of $204,486.20. Following the transaction, the chief executive officer now directly owns 354,700 shares in the company, valued at $52,942,522. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,514 shares of company stock worth $10,200,944. 1.22% of the stock is owned by insiders.

RMD stock traded down $0.97 during trading hours on Tuesday, hitting $148.04. 4,160 shares of the stock were exchanged, compared to its average volume of 471,822. The company has a current ratio of 2.11, a quick ratio of 1.46 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $21.51 billion, a P/E ratio of 40.71, a P/E/G ratio of 2.86 and a beta of 0.41. The company has a 50-day simple moving average of $142.57 and a two-hundred day simple moving average of $130.59. ResMed Inc. has a 12 month low of $90.64 and a 12 month high of $151.46.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.06. The company had revenue of $681.06 million during the quarter, compared to the consensus estimate of $660.87 million. ResMed had a return on equity of 26.72% and a net margin of 15.52%. The company’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. On average, equities research analysts predict that ResMed Inc. will post 4.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a $0.39 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $1.56 annualized dividend and a dividend yield of 1.05%. ResMed’s dividend payout ratio (DPR) is presently 42.86%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, 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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