Mutual Advisors LLC Purchases 146 Shares of ResMed Inc. $RMD

Mutual Advisors LLC raised its position in ResMed Inc. (NYSE:RMD) by 5.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,741 shares of the medical equipment provider’s stock after buying an additional 146 shares during the quarter. Mutual Advisors LLC’s holdings in ResMed were worth $754,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RMD. Golden State Wealth Management LLC grew its holdings in shares of ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of ResMed during the 1st quarter valued at approximately $45,000. Groupe la Francaise bought a new stake in shares of ResMed during the 1st quarter valued at approximately $45,000. Harbour Investments Inc. grew its holdings in shares of ResMed by 264.2% during the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 177 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of ResMed by 926.7% during the 1st quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock valued at $69,000 after purchasing an additional 278 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Activity

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the sale, the general counsel owned 11,327 shares in the company, valued at approximately $3,107,675.72. The trade was a 0.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Hernandez sold 2,575 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the sale, the director owned 4,045 shares of the company’s stock, valued at $1,161,319.50. This trade represents a 38.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,743 shares of company stock worth $5,284,514 in the last quarter. 0.65% of the stock is owned by corporate insiders.

ResMed Stock Down 0.8%

Shares of NYSE RMD opened at $267.96 on Friday. The company has a market capitalization of $39.11 billion, a P/E ratio of 28.18, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The company’s 50 day moving average price is $277.13 and its 200-day moving average price is $257.36.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.08 EPS. Equities analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were paid a $0.60 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. This is an increase from ResMed’s previous quarterly dividend of $0.53. ResMed’s dividend payout ratio (DPR) is presently 25.24%.

Analyst Upgrades and Downgrades

RMD has been the topic of several research reports. Royal Bank Of Canada lifted their price target on shares of ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Citigroup initiated coverage on shares of ResMed in a report on Thursday, September 18th. They set a “buy” rating and a $330.00 price target on the stock. UBS Group raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. Stifel Nicolaus lifted their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company began coverage on shares of ResMed in a research report on Monday, October 13th. They set an “equal weight” rating and a $280.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $292.91.

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.