Hartford Investment Management Co. Has $2.29 Million Stock Holdings in ResMed Inc. $RMD

Hartford Investment Management Co. lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 1.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,860 shares of the medical equipment provider’s stock after selling 131 shares during the period. Hartford Investment Management Co.’s holdings in ResMed were worth $2,286,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of RMD. Wealth Enhancement Advisory Services LLC grew its holdings in ResMed by 306.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,549 shares of the medical equipment provider’s stock worth $6,758,000 after acquiring an additional 22,278 shares during the period. Versant Capital Management Inc grew its holdings in ResMed by 265.1% during the 1st quarter. Versant Capital Management Inc now owns 1,676 shares of the medical equipment provider’s stock worth $375,000 after acquiring an additional 1,217 shares during the period. Central Pacific Bank Trust Division grew its holdings in ResMed by 9.7% during the 1st quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider’s stock worth $126,000 after acquiring an additional 50 shares during the period. GAMMA Investing LLC grew its holdings in ResMed by 23,982.6% during the 1st quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider’s stock worth $164,207,000 after acquiring an additional 730,510 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its holdings in ResMed by 9.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,415 shares of the medical equipment provider’s stock worth $317,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Up 1.2%

RMD opened at $270.54 on Friday. The stock has a market capitalization of $39.61 billion, a P/E ratio of 28.45, a P/E/G ratio of 1.82 and a beta of 0.85. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The firm’s fifty day simple moving average is $277.76 and its 200 day simple moving average is $251.87. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $1.35 billion for 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 revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 EPS. As a group, research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.9%. This is an increase from ResMed’s previous quarterly dividend of $0.53. ResMed’s payout ratio is presently 25.24%.

Insider Activity at ResMed

In related news, Director John Hernandez sold 2,575 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the sale, the director directly owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. The trade was a 38.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 945 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total transaction of $241,438.05. Following the sale, the director directly owned 68,273 shares in the company, valued at $17,443,068.77. This trade represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,588 shares of company stock valued at $5,289,241. 0.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on RMD shares. Royal Bank Of Canada lifted their target price on shares of ResMed from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. William Blair raised shares of ResMed to a “strong-buy” rating in a research report on Friday, August 1st. Piper Sandler lifted their price target on shares of ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Finally, CLSA raised shares of ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $294.20.

ResMed Company Profile

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.