United Asset Strategies Inc. Acquires 6,367 Shares of ResMed Inc. $RMD

United Asset Strategies Inc. boosted its holdings in ResMed Inc. (NYSE:RMD) by 66.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,009 shares of the medical equipment provider’s stock after buying an additional 6,367 shares during the period. United Asset Strategies Inc.’s holdings in ResMed were worth $3,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Landscape Capital Management L.L.C. lifted its stake in ResMed by 123.2% in the third quarter. Landscape Capital Management L.L.C. now owns 49,017 shares of the medical equipment provider’s stock valued at $13,417,000 after buying an additional 27,060 shares during the period. Hsbc Holdings PLC grew its position in shares of ResMed by 17.6% during the 4th quarter. Hsbc Holdings PLC now owns 328,785 shares of the medical equipment provider’s stock worth $79,321,000 after buying an additional 49,253 shares during the period. Nordea Investment Management AB increased its stake in shares of ResMed by 37.2% in the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after acquiring an additional 294,124 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of ResMed by 20.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 112,755 shares of the medical equipment provider’s stock valued at $30,847,000 after acquiring an additional 18,966 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of ResMed by 13.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 979,087 shares of the medical equipment provider’s stock valued at $235,833,000 after acquiring an additional 118,296 shares during the period. 54.98% of the stock is owned by institutional investors.

ResMed Stock Down 0.2%

Shares of ResMed stock traded down $0.40 during trading on Tuesday, reaching $218.00. The stock had a trading volume of 286,544 shares, compared to its average volume of 1,270,458. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $31.62 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 1.23 and a beta of 0.78. The stock has a fifty day moving average price of $201.13 and a two-hundred day moving average price of $229.14. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the company earned $2.37 earnings per share. ResMed’s quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts predict that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is currently 23.14%.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $193.96, for a total value of $968,054.36. Following the sale, the chief executive officer directly owned 466,256 shares in the company, valued at $90,435,013.76. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.65% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on RMD. KeyCorp lowered their target price on shares of ResMed from $290.00 to $266.00 and set an “overweight” rating for the company in a research note on Monday, June 22nd. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Wells Fargo & Company lowered their price objective on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. JPMorgan Chase & Co. started coverage on ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating on the stock. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $230.00 target price (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $270.82.

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.