ResMed Inc. (NYSE:RMD) Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. lessened its stake in shares of ResMed Inc. (NYSE:RMD) by 2.9% during the third quarter, Holdings Channel.com reports. The fund owned 45,268 shares of the medical equipment provider’s stock after selling 1,341 shares during the period. Hantz Financial Services Inc.’s holdings in ResMed were worth $11,051,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. OFI Invest Asset Management acquired a new position in shares of ResMed in the 2nd quarter worth approximately $32,000. Ashton Thomas Securities LLC acquired a new stake in ResMed during the third quarter valued at approximately $34,000. Versant Capital Management Inc boosted its holdings in 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. acquired a new position in ResMed in the second quarter worth approximately $37,000. Finally, Blue Trust Inc. increased its holdings 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 buying an additional 137 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insiders Place Their Bets

In related news, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at $107,645,432.79. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,334 shares of company stock valued at $16,379,713 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.

ResMed Stock Down 0.3 %

RMD stock opened at $249.33 on Friday. The company has a 50 day moving average of $242.15 and a two-hundred day moving average of $225.38. 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 12-month low of $151.95 and a 12-month high of $260.49. The company has a market cap of $36.60 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 1.81 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.64 earnings per share. On average, equities analysts anticipate that ResMed Inc. will post 9.28 earnings per share 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 paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Wall Street Analysts Forecast Growth

RMD has been the subject of several research reports. KeyCorp raised their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Bank of America boosted their price target on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a 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 given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $225.70.

About ResMed

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.