Paralel Advisors LLC Purchases Shares of 10,293 ResMed Inc. $RMD

Paralel Advisors LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 10,293 shares of the medical equipment provider’s stock, valued at approximately $2,006,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RMD. Terra Nova Asset Management LLC increased its holdings in ResMed by 0.6% during 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. lifted its stake in ResMed by 6.6% in the fourth quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock valued at $217,000 after acquiring an additional 52 shares during the last quarter. Andina Capital Management LLC grew its position in shares of ResMed by 2.9% in the 4th 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 during the period. Turtle Creek Wealth Advisors LLC grew its position in shares of ResMed by 6.2% in the 1st 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 during the period. Finally, Inspire Investing LLC increased its stake in shares of ResMed by 7.9% during the 4th quarter. Inspire Investing LLC now owns 902 shares of the medical equipment provider’s stock worth $217,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.0%

Shares of RMD opened at $228.25 on Monday. The firm has a market cap of $32.93 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 3.10. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $284.87. The firm’s 50-day simple moving average is $215.51 and its 200 day simple moving average is $217.98.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the company posted $2.55 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that ResMed Inc. will post 12.02 earnings per share for the current 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 paid a $0.66 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. This represents a $2.64 annualized dividend and a yield of 1.2%. ResMed’s dividend payout ratio is presently 25.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RMD shares. Citigroup reiterated a “neutral” rating and issued a $235.00 target price (down from $270.00) on shares of ResMed in a research note on Sunday, July 12th. Mizuho lowered their price target on ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 15th. UBS Group restated a “buy” rating and issued a $300.00 price objective on shares of ResMed in a research note on Tuesday, July 21st. Wells Fargo & Company cut their price objective on ResMed from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Friday, August 7th. Finally, Rothschild & Co Redburn began coverage on ResMed in a research note on Wednesday, August 19th. They set a “neutral” rating and a $230.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $240.31.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter Farrell sold 970 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $234.73, for a total transaction of $227,688.10. Following the transaction, the director owned 51,803 shares in the company, valued at $12,159,718.19. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael 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 directly owned 466,256 shares of the company’s stock, valued at approximately $95,904,196.64. The trade was 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 sold a total of 18,952 shares of company stock valued at $4,145,070 over the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

About ResMed

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.