Magnetar Financial LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,376 shares of the medical equipment provider’s stock, valued at approximately $1,491,000.

Several other institutional investors have also recently added to or reduced their stakes in RMD. Creative Planning boosted its stake in shares of ResMed by 97.1% during the 2nd quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock worth $130,000 after purchasing an additional 823 shares during the last quarter. Strs Ohio boosted its stake in shares of ResMed by 2.5% during the 2nd quarter. Strs Ohio now owns 21,436 shares of the medical equipment provider’s stock worth $1,669,000 after purchasing an additional 523 shares during the last quarter. NGAM Advisors L.P. boosted its stake in shares of ResMed by 3.4% during the 2nd quarter. NGAM Advisors L.P. now owns 15,507 shares of the medical equipment provider’s stock worth $1,208,000 after purchasing an additional 504 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of ResMed by 6.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 15,459 shares of the medical equipment provider’s stock worth $1,204,000 after purchasing an additional 935 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of ResMed by 9.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the medical equipment provider’s stock worth $327,000 after purchasing an additional 350 shares during the last quarter. 62.02% of the stock is currently owned by institutional investors.

RMD has been the topic of several analyst reports. BMO Capital Markets raised their price target on shares of ResMed from $70.00 to $74.00 and gave the stock a “market perform” rating in a research note on Friday, October 27th. Needham & Company LLC reissued a “sell” rating on shares of ResMed in a research report on Friday, October 27th. Zacks Investment Research cut shares of ResMed from a “buy” rating to a “sell” rating in a research report on Tuesday, October 24th. J P Morgan Chase & Co raised their target price on shares of ResMed from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Finally, Barclays raised their target price on shares of ResMed from $68.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $67.57.

In related news, insider David Pendarvis sold 2,804 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $84.17, for a total value of $236,012.68. Following the transaction, the insider now owns 97,257 shares in the company, valued at $8,186,121.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 20,000 shares of ResMed stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $77.01, for a total transaction of $1,540,200.00. The disclosure for this sale can be found here. Insiders sold 184,693 shares of company stock worth $15,149,955 in the last 90 days. 1.77% of the stock is currently owned by insiders.

ResMed Inc. (NYSE RMD) traded up $0.60 during midday trading on Friday, reaching $86.37. 546,820 shares of the company traded hands, compared to its average volume of 552,324. ResMed Inc. has a 52-week low of $60.13 and a 52-week high of $87.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.72 and a quick ratio of 3.86. The stock has a market capitalization of $12,171.10, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 1.91 and a beta of 0.78.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The firm had revenue of $523.66 million for the quarter, compared to analyst estimates of $506.08 million. During the same quarter last year, the firm posted $0.62 earnings per share. ResMed’s revenue for the quarter was up 12.5% compared to the same quarter last year. sell-side analysts anticipate that ResMed Inc. will post 3 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 9th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $1.40 annualized dividend and a yield of 1.62%. ResMed’s payout ratio is 56.68%.

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ResMed Company Profile

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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