SGL Investment Advisors Inc. Purchases New Position in ResMed Inc. $RMD

SGL Investment Advisors Inc. purchased a new stake in ResMed Inc. (NYSE:RMD) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,409 shares of the medical equipment provider’s stock, valued at approximately $2,290,000.

Several other large investors have also recently added to or reduced their stakes in RMD. Imprint Wealth LLC acquired a new position in shares of ResMed in the 3rd quarter worth approximately $26,000. WFA of San Diego LLC bought a new position in ResMed in the 2nd quarter valued at $26,000. International Assets Investment Management LLC acquired a new position in ResMed in the fourth quarter worth $25,000. Sunbelt Securities Inc. acquired a new position in ResMed in the third quarter worth $31,000. Finally, Bell Investment Advisors Inc bought a new stake in shares of ResMed during the second quarter worth $26,000. 54.98% of the stock is owned by institutional investors.

ResMed Price Performance

Shares of RMD stock opened at $228.81 on Friday. The stock has a 50-day moving average price of $206.48 and a 200 day moving average price of $219.98. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. The firm has a market cap of $33.01 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.45 and a beta of 0.76. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last released its 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. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company posted $2.55 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. Research analysts expect that ResMed Inc. will post 12.03 EPS for the current year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This is a boost from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a yield of 1.2%. ResMed’s payout ratio is 23.01%.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research analyst reports. UBS Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of ResMed in a report on Tuesday, July 21st. Mizuho decreased their price objective on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $230.00 target price (down from $286.00) on shares of ResMed in a research note on Wednesday, June 17th. Wells Fargo & Company reduced their target price on shares of ResMed from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Friday, August 7th. Finally, Rothschild & Co Redburn initiated coverage on shares of ResMed in a report on Wednesday. They issued a “neutral” rating and a $230.00 price target for the company. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, ResMed presently has a consensus rating of “Hold” and a consensus price target of $239.38.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 8,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the director owned 52,773 shares in the company, valued at approximately $11,873,925. The trade was a 13.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $205.69, for a total value of $1,026,598.79. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares in the company, valued at approximately $95,904,196.64. This trade represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,973 shares of company stock valued at $4,885,436 in the last ninety days. Company insiders own 0.65% of the company’s stock.

ResMed 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.