Second Half Financial Partners LLC Makes New Investment in ResMed Inc. (NYSE:RMD)

Second Half Financial Partners LLC acquired a new stake in ResMed Inc. (NYSE:RMD) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,144 shares of the medical equipment provider’s stock, valued at approximately $523,000.

A number of other hedge funds have also modified their holdings of RMD. OFI Invest Asset Management acquired a new position in ResMed during the second quarter worth $32,000. Ashton Thomas Securities LLC acquired a new stake in shares of ResMed during the 3rd quarter worth about $34,000. Versant Capital Management Inc lifted its holdings in ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new position in ResMed in the second quarter valued at about $37,000. Finally, Blue Trust Inc. grew its stake in ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 137 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

ResMed stock opened at $239.92 on Tuesday. The company has a market cap of $35.22 billion, a PE ratio of 31.71, a PEG ratio of 1.71 and a beta of 0.69. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1 year low of $148.03 and a 1 year high of $260.49. The company’s 50-day moving average is $242.62 and its two-hundred day moving average is $223.82.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $1.64 earnings per share. ResMed’s revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RMD. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Wolfe Research reissued an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Finally, Royal Bank of Canada upped their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average price target of $225.70.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the transaction, the director now directly owns 83,204 shares of the company’s stock, valued at $20,696,162.96. This trade represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Witte Jan De sold 796 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,174 shares of company stock valued at $14,882,278 over the last three months. Company insiders own 0.71% of the company’s stock.

ResMed 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.