Angeles Wealth Management LLC Raises Stock Holdings in ResMed Inc. $RMD

Angeles Wealth Management LLC grew its stake in ResMed Inc. (NYSE:RMD) by 10.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,310 shares of the medical equipment provider’s stock after buying an additional 128 shares during the quarter. Angeles Wealth Management LLC’s holdings in ResMed were worth $338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RMD. GAMMA Investing LLC increased its position in ResMed by 7.6% in the first quarter. GAMMA Investing LLC now owns 3,277 shares of the medical equipment provider’s stock worth $734,000 after buying an additional 231 shares in the last quarter. Exchange Traded Concepts LLC increased its position in ResMed by 393.0% in the first quarter. Exchange Traded Concepts LLC now owns 2,529 shares of the medical equipment provider’s stock worth $566,000 after buying an additional 2,016 shares in the last quarter. State of Alaska Department of Revenue increased its position in ResMed by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 17,209 shares of the medical equipment provider’s stock worth $3,852,000 after buying an additional 470 shares in the last quarter. Global X Japan Co. Ltd. grew its position 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 purchasing an additional 68 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of ResMed by 52.9% during the first quarter. Blue Trust Inc. now owns 691 shares of the medical equipment provider’s stock worth $155,000 after purchasing an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

RMD has been the subject of several research analyst reports. CLSA upgraded ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. UBS Group upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 16th. Stifel Nicolaus increased 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of ResMed in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada increased 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. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $292.91.

Insider Buying and Selling at ResMed

In other news, Director John Hernandez sold 2,575 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the sale, the director directly owned 4,045 shares of the company’s stock, valued at $1,161,319.50. This trade represents a 38.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Michael J. Rider sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total value of $27,436.00. Following the completion of the sale, the general counsel directly owned 11,327 shares of the company’s stock, valued at $3,107,675.72. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,743 shares of company stock worth $5,284,514 in the last quarter. 0.65% of the stock is owned by corporate insiders.

ResMed Stock Performance

NYSE RMD opened at $267.96 on Friday. The stock has a market capitalization of $39.11 billion, a PE ratio of 28.18, a P/E/G ratio of 1.80 and a beta of 0.83. The business has a 50 day simple moving average of $277.13 and a two-hundred day simple moving average of $257.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81.

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

ResMed Increases Dividend

The company also recently declared 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. The ex-dividend date was Thursday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.9%. This is a boost from ResMed’s previous quarterly dividend of $0.53. ResMed’s dividend payout ratio (DPR) is 25.24%.

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.