Angeles Wealth Management LLC Buys 128 Shares of ResMed Inc. $RMD

Angeles Wealth Management LLC grew its stake in ResMed Inc. (NYSE:RMD) by 10.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,310 shares of the medical equipment provider’s stock after purchasing an additional 128 shares during the period. Angeles Wealth Management LLC’s holdings in ResMed were worth $338,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global X Japan Co. Ltd. lifted its stake 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 last quarter. Golden State Wealth Management LLC lifted its stake 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 worth $36,000 after acquiring an additional 127 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of ResMed during the 1st quarter worth approximately $45,000. Groupe la Francaise bought a new stake in shares of ResMed during the 1st quarter worth approximately $45,000. Finally, Harbour Investments Inc. lifted its stake in shares of ResMed by 264.2% during the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 177 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Activity

In related news, General Counsel Michael J. Rider sold 100 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares in the company, valued at $3,107,675.72. The trade was a 0.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer owned 467,792 shares in the company, valued at approximately $132,314,967.20. This trade represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,743 shares of company stock worth $5,284,514. 0.65% of the stock is currently owned by company insiders.

ResMed Trading Down 0.8%

Shares of NYSE RMD opened at $267.96 on Friday. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The business has a fifty day simple moving average of $277.13 and a two-hundred day simple moving average of $257.12. The firm has a market cap of $39.11 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 1.80 and a beta of 0.83. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business posted $2.08 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. Analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on ResMed in a research note on Monday. They set an “equal weight” rating and a $280.00 price target for the company. Royal Bank Of Canada raised their price target on ResMed from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. CLSA raised ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Finally, Stifel Nicolaus lifted their target price on ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $292.91.

About ResMed

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.