SGL Investment Advisors Inc. Buys Shares of 10,409 ResMed Inc. $RMD

SGL Investment Advisors Inc. bought a new position in ResMed Inc. (NYSE:RMD) during the 2nd quarter, HoldingsChannel reports. The firm bought 10,409 shares of the medical equipment provider’s stock, valued at approximately $2,290,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in ResMed during the 4th quarter worth $25,000. Bell Investment Advisors Inc acquired a new position in ResMed in the second quarter valued at about $26,000. Imprint Wealth LLC bought a new stake in shares of ResMed in the third quarter worth about $26,000. WFA of San Diego LLC bought a new stake in shares of ResMed in the second quarter worth about $26,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of ResMed during the third quarter worth about $31,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the sale, the chief executive officer owned 466,256 shares in the company, valued at $95,904,196.64. This represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the director directly owned 52,773 shares of the company’s stock, valued at $11,873,925. This represents a 13.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 22,973 shares of company stock worth $4,885,436. Company insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RMD shares. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Royal Bank Of Canada upped their price target on shares of ResMed from $234.00 to $244.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Rothschild & Co Redburn began coverage on shares of ResMed in a report on Wednesday. They set a “neutral” rating and a $230.00 price objective on the stock. Weiss Ratings raised shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, Mizuho reduced their target price on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Hold” and an average target price of $239.38.

ResMed Stock Performance

Shares of RMD stock opened at $228.81 on Friday. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The company’s fifty day simple moving average is $206.48 and its 200-day simple moving average is $219.98. The firm has a market cap of $33.01 billion, a PE ratio of 21.94, a P/E/G ratio of 1.45 and a beta of 0.76. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last released its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm earned $2.55 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts expect that ResMed Inc. will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.66 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $2.64 annualized dividend and a dividend yield of 1.2%. ResMed’s payout ratio is presently 23.01%.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.