IFP Advisors Inc Purchases 375 Shares of ResMed Inc. $RMD

IFP Advisors Inc lifted its position in ResMed Inc. (NYSE:RMD) by 101.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 745 shares of the medical equipment provider’s stock after purchasing an additional 375 shares during the period. IFP Advisors Inc’s holdings in ResMed were worth $192,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RMD. GAMMA Investing LLC increased its position in shares of ResMed by 7.6% in the first quarter. GAMMA Investing LLC now owns 3,277 shares of the medical equipment provider’s stock valued at $734,000 after acquiring an additional 231 shares during the period. Exchange Traded Concepts LLC increased its position in shares of ResMed by 393.0% in the first quarter. Exchange Traded Concepts LLC now owns 2,529 shares of the medical equipment provider’s stock valued at $566,000 after acquiring an additional 2,016 shares during the period. State of Alaska Department of Revenue increased its position in shares of ResMed by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 17,209 shares of the medical equipment provider’s stock valued at $3,852,000 after acquiring an additional 470 shares during the period. Global X Japan Co. Ltd. increased its position in shares of ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 68 shares during the period. Finally, Blue Trust Inc. increased its position in shares of ResMed by 52.9% in the first quarter. Blue Trust Inc. now owns 691 shares of the medical equipment provider’s stock valued at $155,000 after acquiring an additional 239 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the topic of a number of analyst reports. Wells Fargo & Company initiated coverage on shares of ResMed in a research report on Monday. They issued an “equal weight” rating and a $280.00 price objective on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of ResMed in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. CLSA raised shares of ResMed from a “hold” rating to an “outperform” rating in a research note on Tuesday, September 2nd. Finally, William Blair raised shares of ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $292.91.

Insider Transactions at ResMed

In other news, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total value of $27,436.00. Following the transaction, the general counsel owned 11,327 shares in the company, valued at approximately $3,107,675.72. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 467,792 shares in the company, valued at approximately $132,314,967.20. This represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,743 shares of company stock worth $5,284,514. Corporate insiders own 0.65% of the company’s stock.

ResMed Trading Down 0.8%

NYSE:RMD opened at $267.96 on Friday. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. 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 company’s 50-day simple moving average is $277.13 and its 200 day simple moving average is $257.12. The firm has a market capitalization of $39.11 billion, a P/E ratio of 28.18, a PEG ratio of 1.80 and a beta of 0.83.

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

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were paid a $0.60 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, August 14th. ResMed’s payout ratio is currently 25.24%.

ResMed Company 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.