True North Advisors LLC Boosts Stock Position in ResMed Inc. $RMD

True North Advisors LLC boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 302.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,847 shares of the medical equipment provider’s stock after purchasing an additional 3,642 shares during the quarter. True North Advisors LLC’s holdings in ResMed were worth $1,251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. ST Germain D J Co. Inc. increased its holdings in ResMed by 1.6% during the 2nd quarter. ST Germain D J Co. Inc. now owns 95,536 shares of the medical equipment provider’s stock worth $24,648,000 after purchasing an additional 1,526 shares during the last quarter. Dakota Wealth Management increased its holdings in shares of ResMed by 19.8% in the 2nd quarter. Dakota Wealth Management now owns 18,203 shares of the medical equipment provider’s stock valued at $4,696,000 after acquiring an additional 3,014 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of ResMed by 1.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 54,395 shares of the medical equipment provider’s stock valued at $14,034,000 after acquiring an additional 967 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of ResMed by 15.3% in the 2nd quarter. Ballentine Partners LLC now owns 2,055 shares of the medical equipment provider’s stock valued at $530,000 after acquiring an additional 273 shares during the last quarter. Finally, Yarbrough Capital LLC increased its holdings in shares of ResMed by 73.8% in the 2nd quarter. Yarbrough Capital LLC now owns 3,252 shares of the medical equipment provider’s stock valued at $839,000 after acquiring an additional 1,381 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Trading Down 2.4%

NYSE:RMD opened at $267.62 on Friday. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The firm has a market capitalization of $39.18 billion, a P/E ratio of 28.14, a P/E/G ratio of 1.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The business has a 50 day simple moving average of $277.50 and a 200 day simple moving average of $251.34.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm posted $2.08 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were given a dividend of $0.60 per share. This is a boost from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. ResMed’s payout ratio is presently 25.24%.

Insiders Place Their Bets

In other ResMed news, Director John Hernandez sold 2,575 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares in the company, valued at approximately $1,161,319.50. The trade was a 38.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $279.48, for a total value of $2,238,355.32. Following the transaction, the chief executive officer owned 455,503 shares of the company’s stock, valued at $127,303,978.44. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,588 shares of company stock worth $5,289,241. 0.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. KeyCorp boosted their price target on ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a report on Friday, August 1st. UBS Group upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. Royal Bank Of Canada boosted their price target on ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Mizuho boosted their price objective on ResMed from $270.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, CLSA upgraded ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $294.20.

ResMed Profile

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.