Dakota Wealth Management Raises Stock Holdings in ResMed Inc. $RMD

Dakota Wealth Management lifted its position in shares of ResMed Inc. (NYSE:RMD) by 19.8% in the second quarter, HoldingsChannel.com reports. The firm owned 18,203 shares of the medical equipment provider’s stock after purchasing an additional 3,014 shares during the period. Dakota Wealth Management’s holdings in ResMed were worth $4,696,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Global X Japan Co. Ltd. lifted its stake in shares of ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 68 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in ResMed during the 1st quarter valued at approximately $45,000. Groupe la Francaise purchased a new position in ResMed during the first quarter valued at $45,000. Finally, CVA Family Office LLC boosted its holdings in ResMed by 29.8% in the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider’s stock worth $47,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 2.4%

Shares of NYSE:RMD opened at $267.62 on Friday. 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 two-hundred day simple moving average of $251.34. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The firm has a market capitalization of $39.18 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85.

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

ResMed Increases Dividend

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

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 945 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total value of $241,438.05. Following the completion of the sale, the director directly owned 68,273 shares of the company’s stock, valued at $17,443,068.77. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $279.48, for a total transaction of $2,238,355.32. Following the completion of the transaction, the chief executive officer owned 455,503 shares in the company, valued at approximately $127,303,978.44. This represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,588 shares of company stock worth $5,289,241. 0.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on RMD. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Citigroup initiated coverage on shares of ResMed in a report on Thursday, September 18th. They set a “buy” rating and a $330.00 price target on the stock. William Blair raised shares of ResMed to a “strong-buy” rating in a report on Friday, August 1st. Mizuho lifted their target price on shares of ResMed from $270.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus raised their price target on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company 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.