Diversify Advisory Services LLC Takes $801,000 Position in ResMed Inc. $RMD

Diversify Advisory Services LLC acquired a new stake in ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,946 shares of the medical equipment provider’s stock, valued at approximately $801,000.

Several other hedge funds have also recently bought and sold shares of RMD. Imprint Wealth LLC purchased a new position in ResMed during the 3rd quarter valued at about $26,000. WFA of San Diego LLC purchased a new stake in ResMed during the second quarter worth about $26,000. International Assets Investment Management LLC purchased a new stake in ResMed during the fourth quarter worth about $25,000. Sunbelt Securities Inc. acquired a new stake in shares of ResMed during the third quarter worth about $31,000. Finally, Bell Investment Advisors Inc acquired a new stake in shares of ResMed during the second quarter worth about $26,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the sale, the director owned 52,773 shares of the company’s stock, valued at approximately $11,873,925. This trade represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the sale, the chief executive officer directly owned 466,256 shares in the company, valued at approximately $95,904,196.64. The trade was a 1.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 22,973 shares of company stock valued at $4,885,436. 0.65% of the stock is owned by company insiders.

ResMed Stock Performance

NYSE:RMD opened at $228.81 on Friday. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. 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 firm has a market capitalization of $33.01 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76. The business’s fifty day moving average price is $206.48 and its 200 day moving average price is $219.98.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the firm posted $2.55 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that ResMed Inc. will post 12.03 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be paid a dividend of $0.66 per share. The ex-dividend date is Thursday, August 20th. This is a positive change from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a yield of 1.2%. ResMed’s dividend payout ratio (DPR) is presently 23.01%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and issued a $230.00 price objective (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. Royal Bank Of Canada increased their target price on shares of ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Weiss Ratings raised shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Rothschild & Co Redburn started coverage on shares of ResMed in a research note on Wednesday. They issued a “neutral” rating and a $230.00 price target for the company. Finally, Jefferies Financial Group cut their price objective on ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $239.38.

ResMed Profile

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.