Sanctuary Advisors LLC Makes New Investment in ResMed Inc. $RMD

Sanctuary Advisors LLC purchased a new position in ResMed Inc. (NYSE:RMD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,826 shares of the medical equipment provider’s stock, valued at approximately $746,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Imprint Wealth LLC bought a new stake in shares of ResMed during the 3rd quarter worth $26,000. WFA of San Diego LLC bought a new position in ResMed in the second quarter valued at $26,000. International Assets Investment Management LLC purchased a new stake in ResMed during the fourth quarter valued at about $25,000. Sunbelt Securities Inc. purchased a new stake in ResMed during the third quarter valued at about $31,000. Finally, Bell Investment Advisors Inc purchased a new stake in ResMed during the second quarter valued at about $26,000. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of research reports. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. Jefferies Financial Group dropped their target price on ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, July 10th. KeyCorp cut their target price on ResMed from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. UBS Group reiterated a “buy” rating and set a $300.00 price target on shares of ResMed in a research report on Tuesday, July 21st. Finally, Weiss Ratings raised shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, ResMed presently has an average rating of “Hold” and a consensus price target of $239.38.

ResMed Stock Performance

NYSE RMD opened at $240.47 on Friday. The company has a 50-day simple moving average of $211.81 and a two-hundred day simple moving average of $219.18. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $284.87. The firm has a market cap of $34.69 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.48 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 quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business earned $2.55 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that ResMed Inc. will post 12.03 EPS for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, August 20th. This is a positive change from ResMed’s previous quarterly dividend of $0.60. ResMed’s dividend payout ratio is 25.31%.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the director owned 52,773 shares of the company’s stock, valued at approximately $11,873,925. This represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’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 completion of the transaction, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 22,973 shares of company stock worth $4,885,436 over the last ninety days. Insiders own 0.65% of the company’s stock.

ResMed 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.