Oxbow Advisors LLC Purchases Shares of 28,583 ResMed Inc. $RMD

Oxbow Advisors LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 28,583 shares of the medical equipment provider’s stock, valued at approximately $5,570,000.

A number of other institutional investors have also modified their holdings of RMD. Terra Nova Asset Management LLC boosted its stake in shares of ResMed by 0.6% in the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after buying an additional 46 shares during the last quarter. Kera Capital Partners Inc. grew its holdings in ResMed by 6.6% during the fourth quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock worth $217,000 after acquiring an additional 52 shares during the period. Andina Capital Management LLC raised its position in ResMed by 2.9% during the fourth quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock valued at $479,000 after acquiring an additional 56 shares in the last quarter. Turtle Creek Wealth Advisors LLC raised its position in ResMed by 6.2% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 994 shares of the medical equipment provider’s stock valued at $223,000 after acquiring an additional 58 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in ResMed by 7.9% in the fourth quarter. Inspire Investing LLC now owns 902 shares of the medical equipment provider’s stock valued at $217,000 after acquiring an additional 66 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.1%

Shares of NYSE:RMD opened at $220.25 on Wednesday. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81. The firm has a market capitalization of $31.95 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 1.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The business’s 50 day moving average price is $205.01 and its 200-day moving average price is $220.38.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.55 EPS. On average, equities research analysts forecast that ResMed Inc. will post 12.03 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 1.2%. This is a positive change from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. ResMed’s dividend payout ratio (DPR) is 25.31%.

Analyst Ratings Changes

Several research firms have commented on RMD. Jefferies Financial Group lowered their price objective on ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. Mizuho cut their target price on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Robert W. Baird set a $213.00 target price on shares of ResMed in a research note on Friday, August 7th. KeyCorp decreased their target price on shares of ResMed from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $230.00 price target (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $240.17.

Insider Activity

In other news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the sale, the chief executive officer owned 466,256 shares of the company’s stock, valued at $95,904,196.64. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the transaction, the director owned 52,773 shares of the company’s stock, valued at approximately $11,873,925. This trade represents a 13.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 22,973 shares of company stock worth $4,885,436. Company insiders own 0.65% of the company’s stock.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.