Wealthfront Advisers LLC Invests $1.71 Million in ResMed Inc. $RMD

Wealthfront Advisers LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 8,748 shares of the medical equipment provider’s stock, valued at approximately $1,705,000.

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

ResMed Trading Down 0.8%

Shares of ResMed stock opened at $228.81 on Friday. 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 Inc. has a 12-month low of $180.26 and a 12-month high of $293.81. The company has a market capitalization of $33.01 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.45 and a beta of 0.76. The firm’s 50-day moving average price is $206.48 and its two-hundred day moving average price is $219.98.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company earned $2.55 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts forecast that ResMed Inc. will post 12.03 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.66 per share. This is an increase from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, August 20th. ResMed’s dividend payout ratio (DPR) is presently 23.01%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of ResMed from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Friday, August 7th. Jefferies Financial Group decreased their target price on shares of ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. Robert W. Baird set a $213.00 price target on ResMed in a research report on Friday, August 7th. Finally, Rothschild & Co Redburn began coverage on ResMed in a research note on Wednesday. They set a “neutral” rating and a $230.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $239.38.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the transaction, the chief executive officer owned 466,256 shares in the company, valued at approximately $95,904,196.64. This trade represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the transaction, the director directly owned 52,773 shares of the company’s stock, valued at $11,873,925. This trade represents a 13.16% 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. Over the last 90 days, insiders have sold 22,973 shares of company stock valued at $4,885,436. Company insiders own 0.65% of the company’s stock.

ResMed Company 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.