Angeles Wealth Management LLC Makes New Investment in ResMed Inc. (NYSE:RMD)

Angeles Wealth Management LLC acquired a new stake in ResMed Inc. (NYSE:RMD) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,123 shares of the medical equipment provider’s stock, valued at approximately $274,000.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in ResMed by 22.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,104 shares of the medical equipment provider’s stock worth $1,011,000 after acquiring an additional 923 shares in the last quarter. Norden Group LLC increased its position in shares of ResMed by 85.0% during the 1st quarter. Norden Group LLC now owns 2,590 shares of the medical equipment provider’s stock worth $513,000 after purchasing an additional 1,190 shares in the last quarter. Diversify Advisory Services LLC bought a new position in ResMed during the 1st quarter valued at about $360,000. BNP Paribas Financial Markets boosted its position in ResMed by 51.1% in the first quarter. BNP Paribas Financial Markets now owns 109,881 shares of the medical equipment provider’s stock valued at $21,760,000 after buying an additional 37,175 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in ResMed by 5.3% during the first quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock worth $16,102,000 after buying an additional 4,075 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Up 0.7 %

RMD opened at $244.28 on Monday. The firm has a 50 day simple moving average of $242.63 and a 200 day simple moving average of $220.29. ResMed Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $260.49. The company has a market cap of $35.86 billion, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 1.78 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company posted $1.64 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that ResMed Inc. will post 9.22 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is currently 28.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RMD shares. Royal Bank of Canada lifted their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price objective on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. KeyCorp increased their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Baird R W raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.70.

Insider Transactions at ResMed

In related news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the sale, the insider now directly owns 21,788 shares in the company, valued at $5,502,777.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $212.16, for a total value of $212,160.00. Following the completion of the sale, the chief financial officer now directly owns 89,056 shares in the company, valued at $18,894,120.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now owns 21,788 shares in the company, valued at $5,502,777.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,874 shares of company stock worth $17,731,782. 0.71% of the stock is currently owned by company insiders.

ResMed Company Profile

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.