Lindenwold Advisors INC Purchases Shares of 8,245 ResMed Inc. $RMD

Lindenwold Advisors INC bought a new position in shares of ResMed Inc. (NYSE:RMD) in the second quarter, Holdings Channel reports. The fund bought 8,245 shares of the medical equipment provider’s stock, valued at approximately $2,127,000. ResMed makes up approximately 1.1% of Lindenwold Advisors INC’s portfolio, making the stock its 27th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Global X Japan Co. Ltd. lifted its holdings in shares of ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 68 shares in the last quarter. Golden State Wealth Management LLC grew its position in ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 127 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in ResMed in the first quarter valued at about $45,000. Groupe la Francaise bought a new stake in shares of ResMed during the first quarter worth about $45,000. Finally, CVA Family Office LLC grew its holdings in shares of ResMed by 29.8% during the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider’s stock worth $47,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the topic of several research reports. KeyCorp boosted their price target on ResMed from $274.00 to $298.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. UBS Group raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Stifel Nicolaus upped their target price on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 1st. Royal Bank Of Canada upped their target price on ResMed from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, William Blair raised ResMed to a “strong-buy” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $294.20.

ResMed Stock Down 2.1%

RMD stock opened at $271.96 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The company has a market capitalization of $39.69 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 1.87 and a beta of 0.83. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The stock has a fifty day moving average of $278.51 and a 200-day moving average of $255.46.

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

ResMed Increases Dividend

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

Insider Buying and Selling at ResMed

In other ResMed news, Director John Hernandez sold 2,575 shares of ResMed stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares of the company’s stock, valued at $1,161,319.50. The trade was a 38.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total value of $2,265,345.65. Following the transaction, the chief executive officer directly owned 467,792 shares of the company’s stock, valued at $132,314,967.20. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,743 shares of company stock valued at $5,284,514 in the last quarter. 0.71% of the stock is currently owned by corporate insiders.

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.