Dearborn Partners LLC Invests $222,000 in ResMed Inc. (NYSE:RMD)

Dearborn Partners LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,123 shares of the medical equipment provider’s stock, valued at approximately $222,000.

A number of other large investors have also modified their holdings of the stock. Atlantic Edge Private Wealth Management LLC purchased a new position in ResMed in the fourth quarter valued at $27,000. Hall Laurie J Trustee purchased a new position in ResMed in the first quarter valued at $32,000. Planned Solutions Inc. purchased a new position in ResMed in the fourth quarter valued at $34,000. BOK Financial Private Wealth Inc. purchased a new position in ResMed in the first quarter valued at $35,000. Finally, MV Capital Management Inc. increased its holdings in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction 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 directly owns 440,752 shares of the company’s stock, valued at approximately $95,422,808. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Karen Drexler sold 425 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the sale, the director now directly owns 8,446 shares in the company, valued at approximately $1,815,214.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the completion of the sale, the chief executive officer now owns 440,752 shares in the company, valued at $95,422,808. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,834 shares of company stock valued at $9,694,137. 1.21% of the stock is owned by company insiders.

ResMed Stock Performance

Shares of NYSE:RMD traded up $0.31 during trading on Thursday, reaching $206.26. The company had a trading volume of 200,103 shares, compared to its average volume of 1,049,304. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The stock’s fifty day moving average price is $205.90 and its 200 day moving average price is $193.42. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $229.97. The firm has a market capitalization of $30.30 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 1.78 and a beta of 0.66.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. ResMed’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 EPS. As a group, equities research analysts predict that ResMed Inc. will post 7.7 EPS for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.92 annualized dividend and a yield of 0.93%. ResMed’s dividend payout ratio is currently 29.49%.

Wall Street Analyst Weigh In

RMD has been the topic of several recent analyst reports. KeyCorp increased their target price on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Royal Bank of Canada upped their price objective on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Mizuho restated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $236.00 price objective on shares of ResMed in a research note on Monday, June 24th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.80.

About ResMed

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.