ResMed Inc. (NYSE:RMD) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC increased its position in shares of ResMed Inc. (NYSE:RMD) by 4.3% during the first quarter, Holdings Channel reports. The institutional investor owned 2,250 shares of the medical equipment provider’s stock after buying an additional 92 shares during the quarter. HB Wealth Management LLC’s holdings in ResMed were worth $446,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RMD. Gotham Asset Management LLC lifted its position in ResMed by 284.9% in the third quarter. Gotham Asset Management LLC now owns 13,775 shares of the medical equipment provider’s stock valued at $2,037,000 after acquiring an additional 10,196 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of ResMed by 23.2% in the 3rd quarter. AQR Capital Management LLC now owns 106,902 shares of the medical equipment provider’s stock valued at $15,808,000 after purchasing an additional 20,165 shares during the period. Evergreen Capital Management LLC acquired a new stake in shares of ResMed in the 3rd quarter valued at about $223,000. Lido Advisors LLC grew its stake in ResMed by 9.8% during the 3rd quarter. Lido Advisors LLC now owns 1,626 shares of the medical equipment provider’s stock worth $240,000 after buying an additional 145 shares during the last quarter. Finally, Legacy Advisors LLC increased its position in ResMed by 24.7% during the third quarter. Legacy Advisors LLC now owns 4,443 shares of the medical equipment provider’s stock worth $657,000 after buying an additional 881 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

NYSE:RMD traded up $4.50 during trading hours on Friday, hitting $193.90. The company’s stock had a trading volume of 270,236 shares, compared to its average volume of 1,067,177. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $229.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The business’s 50-day moving average is $208.94 and its two-hundred day moving average is $191.61. The company has a market capitalization of $28.49 billion, a PE ratio of 29.49, a PEG ratio of 1.64 and a beta of 0.66.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.68 EPS. As a group, research analysts anticipate that ResMed Inc. will post 7.7 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is 29.49%.

Insider Buying and Selling

In related news, Director Witte Jan De sold 360 shares of ResMed stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the transaction, the director now directly owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the completion of the transaction, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at approximately $95,422,808. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Witte Jan De sold 360 shares of ResMed stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the transaction, the director now owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The disclosure for this sale can be found here. Insiders have sold a total of 31,151 shares of company stock worth $6,666,409 in the last quarter. Company insiders own 1.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $236.00 target price on shares of ResMed in a research report on Monday, June 24th. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Mizuho reaffirmed a “buy” rating and issued a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Finally, KeyCorp upped their price objective on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating and six have given a buy 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 $202.80.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.