Meeder Advisory Services Inc. Purchases 1,091 Shares of ResMed Inc. (NYSE:RMD)

Meeder Advisory Services Inc. increased its position in shares of ResMed Inc. (NYSE:RMD) by 103.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,141 shares of the medical equipment provider’s stock after acquiring an additional 1,091 shares during the period. Meeder Advisory Services Inc.’s holdings in ResMed were worth $410,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RMD. OFI Invest Asset Management bought a new stake in shares of ResMed during the second quarter worth about $32,000. BOK Financial Private Wealth Inc. bought a new stake in ResMed during the 1st quarter worth approximately $35,000. Versant Capital Management Inc increased its position in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares during the period. Financial Connections Group Inc. bought a new position in shares of ResMed during the second quarter valued at $37,000. Finally, Riverview Trust Co acquired a new position in shares of ResMed during the first quarter worth $42,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on RMD shares. Needham & Company LLC lowered ResMed from a “buy” rating to a “hold” rating and set a $236.00 target price for the company. in a research report on Wednesday, September 4th. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. KeyCorp increased their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada increased their price objective on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $204.70.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the transaction, the director now owns 87,204 shares in the company, valued at $20,920,239.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the sale, the director now owns 87,204 shares in the company, valued at approximately $20,920,239.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $85,060,983.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,931 shares of company stock valued at $22,644,807. 1.21% of the stock is owned by company insiders.

ResMed Trading Down 0.7 %

RMD opened at $248.93 on Monday. The company has a fifty day moving average price of $221.95 and a two-hundred day moving average price of $207.24. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $255.18. The company has a market cap of $36.58 billion, a P/E ratio of 38.24, a price-to-earnings-growth ratio of 2.49 and a beta of 0.69. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 EPS. Analysts predict that ResMed Inc. will post 8.92 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently announced 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 is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, August 15th. ResMed’s dividend payout ratio (DPR) is currently 32.57%.

ResMed 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.