ResMed Inc. $RMD Stock Holdings Increased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC lifted its stake in ResMed Inc. (NYSE:RMD) by 26.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,957 shares of the medical equipment provider’s stock after purchasing an additional 407 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in ResMed were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in RMD. Global X Japan Co. Ltd. increased its holdings in ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 68 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 127 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in ResMed in the first quarter worth approximately $45,000. Groupe la Francaise acquired a new position in ResMed in the first quarter worth approximately $45,000. Finally, Larson Financial Group LLC increased its holdings in ResMed by 926.7% in the first quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock worth $69,000 after buying an additional 278 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Up 0.1%

Shares of ResMed stock opened at $270.05 on Friday. The company’s fifty day simple moving average is $277.46 and its 200-day simple moving average is $256.81. The company has a market cap of $39.41 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 1.80 and a beta of 0.83. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81.

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. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.ResMed’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $2.08 earnings per share. As a group, sell-side analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

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

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $282.85, for a total value of $2,265,345.65. Following the completion of the transaction, the chief executive officer directly owned 467,792 shares of the company’s stock, valued at $132,314,967.20. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Michael J. Rider sold 100 shares of ResMed stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total value of $27,436.00. Following the completion of the transaction, the general counsel directly owned 11,327 shares of the company’s stock, valued at $3,107,675.72. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,743 shares of company stock valued at $5,284,514. 0.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RMD shares. Piper Sandler increased their price objective on ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. William Blair upgraded ResMed to a “strong-buy” rating in a report on Friday, August 1st. Stifel Nicolaus increased their price objective on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 1st. KeyCorp increased their price target on ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of ResMed in a report on Wednesday, October 8th. Two research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.91.

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.