10,293 Shares in ResMed Inc. $RMD Acquired by Paralel Advisors LLC

Paralel Advisors LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 10,293 shares of the medical equipment provider’s stock, valued at approximately $2,006,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in ResMed in the fourth quarter valued at about $25,000. WFA of San Diego LLC bought a new stake in ResMed during the second quarter worth about $26,000. Imprint Wealth LLC acquired a new stake in ResMed during the third quarter worth about $26,000. Bell Investment Advisors Inc acquired a new stake in ResMed during the second quarter worth about $26,000. Finally, Sunbelt Securities Inc. bought a new position in ResMed in the 3rd quarter valued at about $31,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Price Performance

RMD stock opened at $228.25 on Monday. The stock has a market cap of $32.93 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 1.44 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The company has a 50 day simple moving average of $215.51 and a 200 day simple moving average of $217.98. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $284.87.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, topping 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 firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm posted $2.55 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Research analysts anticipate that ResMed Inc. will post 12.02 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, August 20th. This is a boost from ResMed’s previous quarterly dividend of $0.60. ResMed’s payout ratio is currently 25.31%.

Insider Activity

In other ResMed news, CEO Michael Farrell sold 4,991 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total value of $1,090,783.05. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $101,893,036.65. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter Farrell sold 8,000 shares of ResMed stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total value of $1,800,000.00. Following the sale, the director directly owned 52,773 shares in the company, valued at $11,873,925. The trade was a 13.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,952 shares of company stock valued at $4,145,070 over the last quarter. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RMD. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. Citigroup restated a “neutral” rating and set a $235.00 price objective (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. Wells Fargo & Company cut their target price on ResMed from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Friday, August 7th. Rothschild & Co Redburn started coverage on ResMed in a research note on Wednesday, August 19th. They issued a “neutral” rating and a $230.00 price target on the stock. Finally, Weiss Ratings raised ResMed from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, ResMed presently has an average rating of “Hold” and a consensus target price of $240.31.

About ResMed

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.