Beck Bode LLC Takes Position in ResMed Inc. $RMD

Beck Bode LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 20,686 shares of the medical equipment provider’s stock, valued at approximately $5,337,000.

Several other large investors have also bought and sold shares of RMD. Zions Bancorporation National Association UT acquired a new stake in ResMed during the 1st quarter worth $45,000. Groupe la Francaise acquired a new position in shares of ResMed in the 1st quarter valued at $45,000. Harbour Investments Inc. boosted its position in shares of ResMed by 264.2% in the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 177 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of ResMed by 926.7% during the first quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock worth $69,000 after purchasing an additional 278 shares during the period. Finally, Quarry LP grew its stake in shares of ResMed by 141.1% during the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 182 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on RMD shares. Piper Sandler increased their target price on ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Citigroup assumed coverage on ResMed in a research note on Thursday, September 18th. They issued a “buy” rating and a $330.00 price target for the company. KeyCorp lifted their price objective on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. William Blair upgraded shares of ResMed to a “strong-buy” rating in a report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ResMed in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $297.45.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 8,011 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the completion of the transaction, the chief executive officer directly owned 467,866 shares in the company, valued at approximately $116,849,533.50. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Hernandez sold 2,575 shares of ResMed stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the sale, the director directly owned 4,045 shares in the company, valued at approximately $1,161,319.50. This represents a 38.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,695 shares of company stock valued at $5,032,811 in the last 90 days. 0.65% of the stock is currently owned by company insiders.

ResMed Stock Performance

Shares of RMD stock opened at $252.65 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company’s 50 day moving average price is $267.68 and its two-hundred day moving average price is $262.88. The company has a market capitalization of $36.87 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, November 13th. ResMed’s dividend payout ratio is 24.56%.

ResMed 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.