ResMed Inc. (NYSE:RMD) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC increased its holdings in ResMed Inc. (NYSE:RMD) by 4.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,266 shares of the medical equipment provider’s stock after purchasing an additional 563 shares during the quarter. Ieq Capital LLC’s holdings in ResMed were worth $2,348,000 at the end of the most recent reporting period.

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

ResMed Stock Performance

ResMed stock opened at $244.94 on Friday. The firm has a 50 day simple moving average of $226.91 and a 200-day simple moving average of $209.44. The stock has a market cap of $35.98 billion, a price-to-earnings ratio of 37.63, a price-to-earnings-growth ratio of 2.50 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $255.18.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the firm earned $1.60 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that ResMed Inc. will post 8.92 EPS for the current year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were given a $0.53 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is presently 32.57%.

Analysts Set New Price Targets

Several research firms have commented on RMD. KeyCorp boosted their price objective on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Wednesday. Wolfe Research reissued an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research note on Wednesday. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada increased their target price on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $199.70.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $192.97, for a total value of $2,833,378.51. Following the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at approximately $85,060,983.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $192.97, for a total value of $2,833,378.51. Following the completion of the sale, the chief executive officer now owns 440,799 shares in the company, valued at approximately $85,060,983.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $194.35, for a total value of $194,350.00. Following the completion of the sale, the chief financial officer now directly owns 90,056 shares in the company, valued at approximately $17,502,383.60. The disclosure for this sale can be found here. Insiders sold a total of 102,931 shares of company stock valued at $22,644,807 over the last 90 days. 1.21% of the stock is 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. 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.