HB Wealth Management LLC Boosts Stock Position in ResMed Inc. (NYSE:RMD)

HB Wealth Management LLC boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,250 shares of the medical equipment provider’s stock after purchasing an additional 92 shares during the quarter. HB Wealth Management LLC’s holdings in ResMed were worth $446,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Atlantic Edge Private Wealth Management LLC bought a new position in shares of ResMed in the 4th quarter valued at about $27,000. Hall Laurie J Trustee purchased a new position in shares of ResMed in the 1st quarter worth approximately $32,000. Planned Solutions Inc. bought a new position in shares of ResMed during the 4th quarter valued at approximately $34,000. MV Capital Management Inc. lifted its position in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 60 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in ResMed during the first quarter worth $42,000. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In other news, Director Karen Drexler sold 425 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the sale, the director now owns 8,446 shares in the company, valued at approximately $1,815,214.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the transaction, the chief executive officer now owns 440,752 shares in the company, valued at approximately $95,422,808. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen Drexler sold 425 shares of ResMed stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the sale, the director now owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The disclosure for this sale can be found here. Insiders sold a total of 31,151 shares of company stock worth $6,666,409 in the last 90 days. 1.21% of the stock is owned by corporate insiders.

ResMed Stock Up 2.4 %

RMD stock traded up $4.50 during trading on Friday, hitting $193.90. 270,236 shares of the company’s stock traded hands, compared to its average volume of 1,067,177. The firm has a market capitalization of $28.49 billion, a P/E ratio of 29.49, a PEG ratio of 1.64 and a beta of 0.66. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $229.97. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $208.94 and a two-hundred day simple moving average of $191.61.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $1.68 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that ResMed Inc. will post 7.7 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s payout ratio is currently 29.49%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RMD. Needham & Company LLC reissued a “buy” rating and issued a $236.00 price objective on shares of ResMed in a research note on Monday, June 24th. Royal Bank of Canada boosted their price objective on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Mizuho reissued a “buy” rating and set a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Finally, Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed 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.