Stratos Wealth Partners LTD. Purchases New Holdings in ResMed Inc. $RMD

Stratos Wealth Partners LTD. purchased a new stake in shares of ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,227 shares of the medical equipment provider’s stock, valued at approximately $317,000.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in ResMed during the 1st quarter valued at about $45,000. Groupe la Francaise bought a new position in ResMed during the 1st quarter valued at about $45,000. Harbour Investments Inc. grew its holdings in ResMed by 264.2% during the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 177 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in ResMed by 926.7% during the 1st quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock valued at $69,000 after purchasing an additional 278 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, Director John Hernandez sold 2,575 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the sale, the director directly owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. This represents a 38.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the transaction, the chief executive officer owned 467,792 shares of the company’s stock, valued at approximately $132,314,967.20. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,743 shares of company stock valued at $5,284,514. 0.65% of the stock is currently owned by insiders.

ResMed Stock Performance

Shares of NYSE:RMD opened at $259.87 on Friday. The firm has a 50 day moving average of $275.26 and a 200 day moving average of $259.01. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $37.93 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 1.83 and a beta of 0.83. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations 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 earned $2.08 EPS. On average, sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. Piper Sandler upped their target price on shares of ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Mizuho upped their target price on shares of ResMed from $270.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Morgan Stanley upped their target price on shares of ResMed from $298.00 to $304.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, ResMed 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.