Quent Capital LLC Acquires 66 Shares of ResMed Inc. (NYSE:RMD)

Quent Capital LLC increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 8.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 823 shares of the medical equipment provider’s stock after purchasing an additional 66 shares during the quarter. Quent Capital LLC’s holdings in ResMed were worth $157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James & Associates increased its stake in ResMed by 21.3% in the fourth quarter. Raymond James & Associates now owns 6,842 shares of the medical equipment provider’s stock valued at $1,177,000 after purchasing an additional 1,200 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in ResMed by 11.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 21,519 shares of the medical equipment provider’s stock valued at $3,702,000 after purchasing an additional 2,239 shares in the last quarter. Ballentine Partners LLC bought a new stake in ResMed in the fourth quarter valued at approximately $223,000. Asset Management One Co. Ltd. increased its stake in ResMed by 2.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 60,869 shares of the medical equipment provider’s stock valued at $10,530,000 after purchasing an additional 1,434 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in ResMed by 11,960.3% in the fourth quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock valued at $3,817,000 after purchasing an additional 22,007 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $211.66, for a total transaction of $3,107,803.78. Following the completion of the transaction, the chief executive officer now owns 440,799 shares in the company, valued at approximately $93,299,516.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares in the company, valued at approximately $4,068,108.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Friday, June 7th. The shares were sold at an average price of $211.66, for a total transaction of $3,107,803.78. Following the completion of the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $93,299,516.34. The disclosure for this sale can be found here. Insiders sold a total of 79,726 shares of company stock worth $16,843,287 in the last quarter. 1.21% of the stock is owned by insiders.

ResMed Price Performance

ResMed stock traded up $3.27 during trading hours on Tuesday, reaching $218.95. 1,079,747 shares of the stock were exchanged, compared to its average volume of 1,067,513. The stock has a 50 day moving average of $203.94 and a two-hundred day moving average of $196.95. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $225.68. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. The company has a market cap of $32.17 billion, a P/E ratio of 33.63, a price-to-earnings-growth ratio of 1.93 and a beta of 0.66.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.58%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the company posted $1.60 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts expect that ResMed Inc. will post 8.79 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio (DPR) is 29.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RMD shares. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. KeyCorp upped their price target on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Needham & Company LLC restated a “buy” rating and set a $236.00 target price on shares of ResMed in a report on Friday. Finally, Royal Bank of Canada increased their target price on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.70.

About ResMed

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.