Hantz Financial Services Inc. Decreases Stake in ResMed Inc. (NYSE:RMD)

Hantz Financial Services Inc. reduced its position in ResMed Inc. (NYSE:RMD) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vinva Investment Management Ltd boosted its position in ResMed by 243.6% in the 3rd quarter. Vinva Investment Management Ltd now owns 20,903 shares of the medical equipment provider’s stock valued at $4,996,000 after buying an additional 14,820 shares during the last quarter. Public Sector Pension Investment Board boosted its position in ResMed by 14.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 6,432 shares of the medical equipment provider’s stock valued at $1,570,000 after buying an additional 800 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ResMed by 0.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after buying an additional 2,406 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ResMed by 3.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,496 shares of the medical equipment provider’s stock valued at $15,257,000 after buying an additional 2,294 shares during the last quarter. Finally, Avestar Capital LLC purchased a new position in ResMed in the 3rd quarter valued at about $270,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ResMed

In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $246.42, for a total value of $246,420.00. Following the sale, the chief financial officer now owns 96,812 shares in the company, valued at approximately $23,856,413.04. This trade represents a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the sale, the director now owns 87,204 shares in the company, valued at $20,920,239.60. The trade was a 2.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,334 shares of company stock worth $16,379,713. 0.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on RMD. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. KeyCorp increased their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Robert W. Baird increased their price target on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

ResMed Stock Performance

Shares of NYSE RMD opened at $249.33 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $242.15 and its two-hundred day moving average price is $225.38. ResMed Inc. has a 52-week low of $151.95 and a 52-week high of $260.49. The stock has a market capitalization of $36.60 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.81 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company posted $1.64 earnings per share. ResMed’s revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared 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. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. ResMed’s payout ratio is currently 28.08%.

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.