SGL Investment Advisors Inc. Sells 1,461 Shares of ResMed Inc. $RMD

SGL Investment Advisors Inc. trimmed its stake in shares of ResMed Inc. (NYSE:RMD) by 11.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 11,070 shares of the medical equipment provider’s stock after selling 1,461 shares during the quarter. SGL Investment Advisors Inc.’s holdings in ResMed were worth $2,840,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RMD. Global X Japan Co. Ltd. lifted its holdings in shares of ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 68 shares during the period. Golden State Wealth Management LLC grew its holdings in shares of ResMed by 384.8% during the 1st 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 in the 1st quarter valued at approximately $45,000. Groupe la Francaise acquired a new position in shares of ResMed in the first quarter valued at approximately $45,000. Finally, CVA Family Office LLC increased its stake in shares of ResMed by 29.8% in the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider’s stock valued at $47,000 after buying an additional 48 shares during the period. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of ResMed stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares of the company’s stock, valued at $3,107,675.72. The trade was a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Hernandez sold 2,575 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the sale, the director owned 4,045 shares of the company’s stock, valued at $1,161,319.50. This represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,734 shares of company stock worth $3,019,169 in the last ninety days. 0.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on RMD. CLSA upgraded ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Piper Sandler raised their target price on ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. William Blair upgraded shares of ResMed to a “strong-buy” rating in a report on Friday, August 1st. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, UBS Group upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus target price of $294.20.

ResMed Trading Up 1.1%

Shares of ResMed stock opened at $281.76 on Tuesday. The stock’s 50-day simple moving average is $278.33 and its 200 day simple moving average is $254.34. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. 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 capitalization of $41.12 billion, a P/E ratio of 29.63, a P/E/G ratio of 1.87 and a beta of 0.83.

ResMed (NYSE:RMD) last issued its earnings results 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 return on equity of 25.62% and a net margin of 27.22%.The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company earned $2.08 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

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

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.