Creative Planning Purchases 1,765 Shares of ResMed Inc. $RMD

Creative Planning raised its position in shares of ResMed Inc. (NYSE:RMD) by 5.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,705 shares of the medical equipment provider’s stock after purchasing an additional 1,765 shares during the period. Creative Planning’s holdings in ResMed were worth $8,180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC lifted its stake in ResMed by 18.3% in the first quarter. Private Advisor Group LLC now owns 3,244 shares of the medical equipment provider’s stock worth $726,000 after acquiring an additional 501 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in shares of ResMed by 3.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 11,266 shares of the medical equipment provider’s stock worth $2,522,000 after purchasing an additional 325 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of ResMed by 12.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 95,874 shares of the medical equipment provider’s stock worth $21,461,000 after purchasing an additional 10,431 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of ResMed by 43.4% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,520 shares of the medical equipment provider’s stock valued at $340,000 after purchasing an additional 460 shares in the last quarter. Finally, Wakefield Asset Management LLLP increased its holdings in ResMed by 1.5% during the first quarter. Wakefield Asset Management LLLP now owns 14,653 shares of the medical equipment provider’s stock valued at $3,280,000 after buying an additional 221 shares during the period. Institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 8,011 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $249.75, for a total value of $2,000,747.25. Following the completion of the transaction, the chief executive officer owned 467,866 shares in the company, valued at $116,849,533.50. This trade represents a 1.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Witte Jan De sold 487 shares of ResMed stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $250.25, for a total value of $121,871.75. Following the sale, the director directly owned 5,319 shares of the company’s stock, valued at approximately $1,331,079.75. This represents a 8.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 18,607 shares of company stock worth $4,919,501. Corporate insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on RMD. Piper Sandler upped their target price on ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Citigroup started coverage on ResMed in a research report on Thursday, September 18th. They set a “buy” rating and a $330.00 price objective on the stock. Mizuho cut their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Royal Bank Of Canada increased their price target on shares of ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, KeyCorp raised their price target on shares of ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $297.45.

ResMed Trading Down 0.4%

ResMed stock opened at $245.18 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The stock has a market cap of $35.78 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87. The stock has a 50-day moving average of $264.42 and a two-hundred day moving average of $263.15. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.20 earnings per share. On average, research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders 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 dividend on an annualized basis and a yield of 1.0%. ResMed’s dividend payout ratio is presently 24.56%.

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.