United Capital Financial Advisors LLC Invests $1.10 Million in ResMed Inc. $RMD

United Capital Financial Advisors LLC acquired a new stake in ResMed Inc. (NYSE:RMD) during the second quarter, Holdings Channel.com reports. The firm acquired 5,671 shares of the medical equipment provider’s stock, valued at approximately $1,105,000.

Several other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in ResMed in the fourth quarter valued at $25,000. Bell Investment Advisors Inc purchased a new stake in ResMed during the 2nd quarter valued at approximately $26,000. Imprint Wealth LLC acquired a new stake in ResMed during the 3rd quarter worth approximately $26,000. WFA of San Diego LLC acquired a new stake in ResMed during the 2nd quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of ResMed in the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the transaction, the director directly owned 52,773 shares of the company’s stock, valued at $11,873,925. This trade represents a 13.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 ResMed stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $95,904,196.64. This represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 22,973 shares of company stock worth $4,885,436. Insiders own 0.65% of the company’s stock.

ResMed Stock Up 2.0%

Shares of NYSE RMD opened at $240.47 on Friday. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $284.87. The firm has a 50-day moving average price of $211.81 and a 200 day moving average price of $219.18. The stock has a market capitalization of $34.69 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 1.51 and a beta of 0.76.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $1.46 billion. During the same period in the prior year, the business posted $2.55 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that ResMed Inc. will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be issued a $0.66 dividend. The ex-dividend date is Thursday, August 20th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from ResMed’s previous quarterly dividend of $0.60. ResMed’s payout ratio is currently 25.31%.

Analyst Ratings Changes

Several equities research analysts have recently commented on RMD shares. Robert W. Baird set a $213.00 price target on ResMed in a research note on Friday, August 7th. Wells Fargo & Company cut their price target on shares of ResMed from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. Royal Bank Of Canada raised their price objective on shares of ResMed from $234.00 to $244.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Citigroup reaffirmed a “neutral” rating and issued a $235.00 price objective (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $230.00 target price (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $239.38.

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.