Indiana Trust & Investment Management Co Buys Shares of 400 ResMed Inc. (NYSE:RMD)

by · The Cerbat Gem

Indiana Trust & Investment Management Co purchased a new position in ResMed Inc. (NYSE:RMD – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 400 shares of the medical equipment provider’s stock, valued at approximately $98,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of ResMed in the 2nd quarter worth about $32,000. BOK Financial Private Wealth Inc. bought a new stake in shares of ResMed during the first quarter valued at approximately $35,000. Versant Capital Management Inc raised its holdings in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 120 shares during the last quarter. Financial Connections Group Inc. bought a new position in ResMed in the 2nd quarter valued at approximately $37,000. Finally, Riverview Trust Co purchased a new stake in ResMed during the 1st quarter valued at $42,000. Institutional investors own 54.98% of the company’s stock.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $214.25, for a total transaction of $3,145,832.75. Following the completion of the transaction, the chief executive officer now owns 440,799 shares in the company, valued at $94,441,185.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Justin Leong sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $214.25, for a total value of $3,145,832.75. Following the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $94,441,185.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 123,874 shares of company stock worth $28,151,142 over the last 90 days. Corporate insiders own 1.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RMD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Tuesday, October 1st. Royal Bank of Canada boosted their price objective on shares of ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a report on Tuesday, October 1st. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday. Baird R W raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Robert W. Baird initiated coverage on ResMed in a research report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

View Our Latest Report on ResMed

ResMed Price Performance

NYSE:RMD traded down $0.61 on Wednesday, reaching $238.57. 282,599 shares of the company’s stock traded hands, compared to its average volume of 1,032,090. The stock has a 50-day simple moving average of $237.25 and a 200-day simple moving average of $215.20. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $255.18. The firm has a market cap of $35.05 billion, a PE ratio of 36.90, a P/E/G ratio of 2.14 and a beta of 0.69. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14.

ResMed (NYSE:RMD – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.60 EPS. Equities research analysts forecast that ResMed Inc. will post 9.02 earnings per share for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is 32.57%.

ResMed Profile

(Free Report)

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.

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