ResMed Inc. $RMD Shares Purchased by Baron Wealth Management LLC

Baron Wealth Management LLC boosted its stake in ResMed Inc. (NYSE:RMD) by 15.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,481 shares of the medical equipment provider’s stock after purchasing an additional 196 shares during the period. Baron Wealth Management LLC’s holdings in ResMed were worth $382,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC boosted its position in ResMed by 13.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 1,700 shares of the medical equipment provider’s stock valued at $439,000 after buying an additional 201 shares during the period. Financiere des Professionnels Fonds d investissement inc. purchased a new position in ResMed in the 2nd quarter valued at approximately $419,000. Czech National Bank boosted its position in ResMed by 6.2% in the 2nd quarter. Czech National Bank now owns 35,840 shares of the medical equipment provider’s stock valued at $9,247,000 after buying an additional 2,107 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in ResMed by 1.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 69,886 shares of the medical equipment provider’s stock valued at $18,031,000 after buying an additional 1,147 shares during the period. Finally, Parallel Advisors LLC boosted its position in ResMed by 5.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,812 shares of the medical equipment provider’s stock valued at $468,000 after buying an additional 94 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 945 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total transaction of $241,438.05. Following the sale, the director owned 68,273 shares of the company’s stock, valued at approximately $17,443,068.77. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Hernandez sold 2,575 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following 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. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,588 shares of company stock valued at $5,289,241. Corporate insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

RMD has been the subject of several recent research reports. UBS Group raised their price target on shares of ResMed from $285.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. CLSA raised shares of ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada raised their price target on shares of ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, KeyCorp raised their price target on shares of ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $278.36.

ResMed Stock Up 0.6%

RMD stock opened at $272.88 on Wednesday. The company has a market cap of $39.95 billion, a P/E ratio of 28.69, a P/E/G ratio of 1.81 and a beta of 0.85. 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 $274.97 and its 200 day moving average price is $249.42. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.08 earnings per share. On average, research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 14th will be issued a dividend of $0.60 per share. This is an increase from ResMed’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, August 14th. ResMed’s payout ratio is presently 25.24%.

About ResMed

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.