Strategic Global Advisors LLC Makes New $3.86 Million Investment in ResMed Inc. $RMD

Strategic Global Advisors LLC purchased a new stake in ResMed Inc. (NYSE:RMD) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 19,794 shares of the medical equipment provider’s stock, valued at approximately $3,857,000.

Other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its position in ResMed by 52.6% during the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after acquiring an additional 994 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in ResMed during the second quarter worth about $389,000. Brown Advisory Inc. raised its holdings in shares of ResMed by 17.8% in the 2nd quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock worth $409,000 after purchasing an additional 240 shares during the period. Cresset Asset Management LLC purchased a new position in shares of ResMed in the 2nd quarter worth about $206,000. Finally, Alliancebernstein L.P. raised its holdings in shares of ResMed by 24.2% in the 2nd quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock worth $73,808,000 after purchasing an additional 55,790 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the sale, the director owned 52,773 shares of the company’s stock, valued at $11,873,925. This trade represents a 13.16% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the sale, the chief executive officer owned 466,256 shares in the company, valued at $95,904,196.64. This represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,973 shares of company stock valued at $4,885,436 in the last ninety days. 0.65% of the stock is owned by corporate insiders.

ResMed Trading Down 0.4%

Shares of RMD opened at $235.73 on Thursday. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $285.08. The stock’s 50-day moving average is $209.84 and its two-hundred day moving average is $219.29. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The stock has a market cap of $34.00 billion, a PE ratio of 22.60, a P/E/G ratio of 1.48 and a beta of 0.76.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.55 earnings per share. Equities analysts forecast that ResMed Inc. will post 12.03 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be issued a $0.66 dividend. The ex-dividend date is Thursday, August 20th. This represents a $2.64 dividend on an annualized basis and a yield of 1.1%. This is a boost from ResMed’s previous quarterly dividend of $0.60. ResMed’s dividend payout ratio (DPR) is currently 25.31%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank Of Canada boosted their target price on ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. Mizuho reduced their price target on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 15th. Morgan Stanley reiterated an “equal weight” rating and set a $230.00 price objective (down from $286.00) on shares of ResMed in a research note on Wednesday, June 17th. Finally, Robert W. Baird set a $213.00 price objective on shares of ResMed in a research report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, ResMed currently has a consensus rating of “Hold” and an average price target of $239.38.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.