Motley Fool Asset Management LLC Buys 753 Shares of ResMed Inc. $RMD

Motley Fool Asset Management LLC increased its stake in ResMed Inc. (NYSE:RMD) by 8.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,357 shares of the medical equipment provider’s stock after buying an additional 753 shares during the quarter. Motley Fool Asset Management LLC’s holdings in ResMed were worth $2,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. ICW Investment Advisors LLC lifted its position in shares of ResMed by 0.4% during the first quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock worth $2,551,000 after purchasing an additional 41 shares during the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of ResMed by 2.8% during the second quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after purchasing an additional 45 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of ResMed by 3.9% during the first quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock worth $269,000 after purchasing an additional 46 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in shares of ResMed by 2.8% during the first quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock worth $385,000 after purchasing an additional 47 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in shares of ResMed by 3.0% during the second quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider’s stock worth $451,000 after purchasing an additional 51 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of ResMed stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the transaction, the general counsel owned 11,327 shares in the company, valued at $3,107,675.72. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total value of $2,265,345.65. Following the completion of the transaction, the chief executive officer owned 467,792 shares in the company, valued at $132,314,967.20. This trade represents a 1.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,743 shares of company stock worth $5,284,514 over the last quarter. Insiders own 0.65% of the company’s stock.

ResMed Stock Performance

Shares of ResMed stock opened at $257.10 on Wednesday. The firm has a market cap of $37.52 billion, a P/E ratio of 27.03, a P/E/G ratio of 1.79 and a beta of 0.83. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The stock’s fifty day moving average price is $274.14 and its 200-day moving average price is $260.31.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 earnings per share. On average, equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently weighed in on RMD. CLSA upgraded ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Wells Fargo & Company began coverage on ResMed in a research report on Monday, October 13th. They set an “equal weight” rating and a $280.00 target price for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of ResMed in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, Citigroup assumed coverage on ResMed in a research note on Thursday, September 18th. They set a “buy” rating and a $330.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $295.70.

About ResMed

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.