Keynote Financial Services LLC Acquires Shares of 1,325 ResMed Inc. (NYSE:RMD)

Keynote Financial Services LLC acquired a new stake in shares of ResMed Inc. (NYSE:RMD) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,325 shares of the medical equipment provider’s stock, valued at approximately $262,000.

A number of other large investors have also recently added to or reduced their stakes in RMD. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of ResMed in the 4th quarter worth about $27,000. Hall Laurie J Trustee acquired a new stake in shares of ResMed in the 1st quarter worth about $32,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of ResMed in the 1st quarter worth about $35,000. Riverview Trust Co acquired a new stake in shares of ResMed in the 1st quarter worth about $42,000. Finally, MV Capital Management Inc. increased its holdings in shares of ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 60 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $209.81, for a total transaction of $209,810.00. Following the completion of the sale, the chief financial officer now directly owns 91,056 shares of the company’s stock, valued at approximately $19,104,459.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $209.81, for a total transaction of $209,810.00. Following the completion of the sale, the chief financial officer now directly owns 91,056 shares of the company’s stock, valued at approximately $19,104,459.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $192.97, for a total value of $2,833,378.51. Following the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at $85,060,983.03. The disclosure for this sale can be found here. Insiders sold a total of 46,409 shares of company stock valued at $9,602,796 in the last ninety days. 1.21% of the stock is owned by insiders.

ResMed Price Performance

NYSE RMD traded up $9.08 on Friday, hitting $223.64. 2,659,791 shares of the company were exchanged, compared to its average volume of 925,655. The firm has a 50 day moving average of $203.89 and a two-hundred day moving average of $196.47. The company has a market cap of $32.85 billion, a P/E ratio of 34.35, a P/E/G ratio of 1.85 and a beta of 0.66. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $225.68.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.58% and a net margin of 21.79%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.60 EPS. On average, equities analysts predict that ResMed Inc. will post 8.71 EPS for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be paid a $0.53 dividend. The ex-dividend date is Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. ResMed’s dividend payout ratio is 29.49%.

Analysts Set New Price Targets

Several equities analysts have commented on RMD shares. KeyCorp raised their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $236.00 price objective on shares of ResMed in a research note on Friday. Royal Bank of Canada lifted their price objective on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.70.

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.