ResMed Inc. $RMD Shares Purchased by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC grew its stake in shares of ResMed Inc. (NYSE:RMD) by 14.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,305 shares of the medical equipment provider’s stock after acquiring an additional 161 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in ResMed were worth $337,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT acquired a new position in ResMed during the first quarter worth approximately $45,000. Groupe la Francaise purchased a new position in shares of ResMed in the 1st quarter worth $45,000. Harbour Investments Inc. boosted its holdings in ResMed by 264.2% in the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 177 shares during the last quarter. Larson Financial Group LLC grew its position in ResMed by 926.7% during the first quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock valued at $69,000 after acquiring an additional 278 shares during the period. Finally, Quarry LP increased its stake in ResMed by 141.1% during the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after acquiring an additional 182 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Down 2.2%

Shares of NYSE:RMD opened at $246.67 on Friday. The company has a market capitalization of $36.00 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 1.75 and a beta of 0.83. The company has a 50 day moving average of $271.78 and a two-hundred day moving average of $260.75. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.06. The business had revenue of $1.34 billion during 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 business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 earnings per share. As a group, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed’s dividend payout ratio (DPR) is currently 25.24%.

Insider Transactions at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the sale, the general counsel owned 11,327 shares in the company, valued at $3,107,675.72. This trade represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the completion of the sale, the chief executive officer owned 467,792 shares of the company’s stock, valued at approximately $132,314,967.20. This trade represents a 1.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 18,693 shares of company stock valued at $5,270,419. 0.65% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RMD has been the topic of several research analyst reports. KeyCorp lifted their price objective on ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. Morgan Stanley set a $305.00 price objective on shares of ResMed in a research note on Friday. Citigroup started coverage on shares of ResMed in a research report on Thursday, September 18th. They issued a “buy” rating and a $330.00 price objective for the company. Finally, Royal Bank Of Canada lifted their target price on shares of ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $297.20.

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.