Consolidated Planning Corp Raises Stake in ResMed Inc. $RMD

Consolidated Planning Corp boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 11.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,078 shares of the medical equipment provider’s stock after purchasing an additional 534 shares during the period. Consolidated Planning Corp’s holdings in ResMed were worth $1,310,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of RMD. OVERSEA CHINESE BANKING Corp Ltd grew its position in ResMed by 1,168.5% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider’s stock worth $132,272,000 after purchasing an additional 544,311 shares during the last quarter. Allianz Asset Management GmbH grew its position in ResMed by 334.0% during the 1st quarter. Allianz Asset Management GmbH now owns 455,124 shares of the medical equipment provider’s stock worth $101,880,000 after purchasing an additional 350,245 shares during the last quarter. Swedbank AB grew its position in ResMed by 445.1% during the 1st quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider’s stock worth $88,940,000 after purchasing an additional 324,428 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of ResMed by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider’s stock valued at $4,139,815,000 after acquiring an additional 320,240 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of ResMed in the first quarter valued at about $69,492,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Performance

Shares of RMD opened at $270.71 on Thursday. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. The stock has a market cap of $39.63 billion, a P/E ratio of 28.47, a PEG ratio of 1.84 and a beta of 0.83. The company has a 50-day moving average of $278.03 and a two-hundred day moving average of $252.69. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 earnings per share. As a group, research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, August 14th. This is an increase from ResMed’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. ResMed’s dividend payout ratio (DPR) is presently 25.24%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. CLSA raised shares of ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Citigroup assumed coverage on shares of ResMed in a report on Thursday, September 18th. They set a “buy” rating and a $330.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 1st. William Blair raised shares of ResMed to a “strong-buy” rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada boosted their price objective on shares of ResMed from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $294.20.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the transaction, the chief executive officer owned 455,503 shares of the company’s stock, valued at $127,303,978.44. The trade was a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Hernandez sold 2,575 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the transaction, the director directly owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. This represents a 38.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,643 shares of company stock valued at $5,047,803. 0.71% of the stock is currently owned by company insiders.

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.