ResMed Inc. $RMD Shares Purchased by Stephens Inc. AR

Stephens Inc. AR boosted its position in ResMed Inc. (NYSE:RMD) by 0.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,101 shares of the medical equipment provider’s stock after purchasing an additional 159 shares during the period. Stephens Inc. AR’s holdings in ResMed were worth $12,410,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. ICW Investment Advisors LLC lifted its position in ResMed by 0.4% in 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 period. Johnson Investment Counsel Inc. lifted its position in shares of ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock valued at $430,000 after acquiring an additional 45 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of ResMed by 3.9% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock valued at $269,000 after acquiring 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 1st quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock valued at $385,000 after acquiring 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 2nd quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider’s stock valued at $451,000 after acquiring an additional 51 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on RMD. Stifel Nicolaus increased their price objective on ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 1st. UBS Group upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 16th. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. KeyCorp increased their price objective on ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Citigroup started coverage on shares of ResMed in a research note on Thursday, September 18th. They set a “buy” rating and a $330.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $292.91.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer directly owned 467,792 shares of the company’s stock, valued at approximately $132,314,967.20. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Hernandez sold 2,575 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the transaction, the director directly owned 4,045 shares in the company, valued at $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,743 shares of company stock valued at $5,284,514. 0.65% of the stock is owned by insiders.

ResMed Price Performance

Shares of NYSE:RMD opened at $271.44 on Tuesday. The company’s fifty day moving average is $276.88 and its two-hundred day moving average is $258.14. The company has a quick ratio of 2.53, a current ratio of 3.44 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 company has a market cap of $39.61 billion, a P/E ratio of 28.54, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83.

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

ResMed Increases Dividend

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

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.