Diversify Wealth Management LLC Invests $1.58 Million in ResMed Inc. $RMD

Diversify Wealth Management LLC acquired a new stake in shares of ResMed Inc. (NYSE:RMD) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 7,467 shares of the medical equipment provider’s stock, valued at approximately $1,583,000.

A number of other institutional investors have also recently made changes to their positions in RMD. International Assets Investment Management LLC purchased a new position in ResMed during the 4th quarter worth $25,000. ORG Partners LLC raised its stake in ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 69 shares during the last quarter. Imprint Wealth LLC purchased a new stake in ResMed in the third quarter valued at about $26,000. WFA of San Diego LLC acquired a new stake in ResMed in the second quarter worth about $26,000. Finally, Sunbelt Securities Inc. acquired a new stake in ResMed in the third quarter worth about $31,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RMD shares. Robert W. Baird set a $225.00 price objective on shares of ResMed in a report on Friday, May 1st. JPMorgan Chase & Co. started coverage on shares of ResMed in a research note on Wednesday, April 15th. They issued an “overweight” rating for the company. Wells Fargo & Company dropped their target price on shares of ResMed from $227.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Jefferies Financial Group cut their price target on shares of ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday. Finally, Citigroup reaffirmed a “neutral” rating and issued a $235.00 price target (down from $270.00) on shares of ResMed in a report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $260.17.

ResMed Stock Down 2.6%

ResMed stock opened at $193.28 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The business’s 50-day simple moving average is $199.87 and its two-hundred day simple moving average is $227.45. The company has a market cap of $28.04 billion, a PE ratio of 18.64, a PEG ratio of 1.19 and a beta of 0.78. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the company earned $2.37 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. Equities analysts anticipate that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, May 14th. ResMed’s dividend payout ratio is 23.14%.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $101,893,036.65. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 14,973 shares of company stock valued at $3,096,067. 0.65% of the stock is currently owned by corporate insiders.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.