Simon Quick Advisors LLC Buys 849 Shares of ResMed Inc. $RMD

Simon Quick Advisors LLC lifted its stake in ResMed Inc. (NYSE:RMD) by 43.5% during the second quarter, HoldingsChannel reports. The firm owned 2,800 shares of the medical equipment provider’s stock after purchasing an additional 849 shares during the period. Simon Quick Advisors LLC’s holdings in ResMed were worth $722,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. ICW Investment Advisors LLC grew its holdings in shares of ResMed by 0.4% in the first quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock worth $2,551,000 after purchasing an additional 41 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in shares of ResMed by 2.8% in the second quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after purchasing an additional 45 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of ResMed by 3.9% in the first quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock worth $269,000 after purchasing an additional 46 shares during the last quarter. E Fund Management Co. Ltd. grew its holdings in ResMed by 2.8% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock worth $385,000 after acquiring an additional 47 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in ResMed by 3.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider’s stock worth $451,000 after acquiring an additional 51 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on RMD shares. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. KeyCorp increased their target price on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. William Blair upgraded shares of ResMed to a “strong-buy” rating in a report on Friday, August 1st. Finally, Piper Sandler increased their target price on shares of ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $297.20.

ResMed Stock Performance

RMD stock opened at $246.67 on Friday. The firm has a market cap of $36.00 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 1.75 and a beta of 0.83. The firm has a 50-day simple moving average of $271.78 and a two-hundred day simple moving average of $260.75. ResMed Inc. has a one year low of $199.92 and a one year 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.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.49 by $0.06. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.20 earnings per share. On average, equities analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s dividend payout ratio is presently 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 that occurred on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total value of $2,265,345.65. Following the completion of the sale, the chief executive officer directly owned 467,792 shares in the company, valued at $132,314,967.20. This trade represents a 1.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Hernandez sold 2,575 shares of ResMed stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the sale, the director owned 4,045 shares of the company’s stock, valued at $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 18,693 shares of company stock valued at $5,270,419. 0.65% of the stock is currently owned by insiders.

ResMed Company 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.