Crestwood Advisors Group LLC Makes New Investment in ResMed Inc. $RMD

Crestwood Advisors Group LLC bought a new position in ResMed Inc. (NYSE:RMD) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 1,023 shares of the medical equipment provider’s stock, valued at approximately $264,000.

A number of other institutional investors have also recently made changes to their positions in RMD. Ballentine Partners LLC boosted its position in ResMed by 6.3% in the 1st quarter. Ballentine Partners LLC now owns 1,782 shares of the medical equipment provider’s stock valued at $399,000 after buying an additional 105 shares during the period. Inspire Investing LLC raised its stake in shares of ResMed by 29.3% during the first quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock valued at $6,397,000 after acquiring an additional 6,472 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of ResMed by 63.2% during the first quarter. Intech Investment Management LLC now owns 15,325 shares of the medical equipment provider’s stock valued at $3,430,000 after acquiring an additional 5,934 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of ResMed by 8.5% in the first quarter. Goldman Sachs Group Inc. now owns 739,007 shares of the medical equipment provider’s stock valued at $165,427,000 after purchasing an additional 58,155 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in ResMed by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider’s stock worth $218,791,000 after purchasing an additional 22,789 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of ResMed stock opened at $251.41 on Friday. The company has a market capitalization of $36.69 billion, a PE ratio of 26.44, a P/E/G ratio of 1.75 and a beta of 0.87. The company has a 50-day simple moving average of $268.54 and a two-hundred day simple moving average of $261.99. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business earned $2.20 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. Research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is 24.56%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company started coverage on ResMed in a report on Monday, October 13th. They set an “equal weight” rating and a $280.00 price objective on the stock. Royal Bank Of Canada raised their price target on ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. CLSA upgraded ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. William Blair upgraded shares of ResMed to a “strong-buy” rating in a report on Friday, August 1st. Finally, KeyCorp raised their target price on shares of ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $297.45.

Insiders Place Their Bets

In related news, Director John Hernandez sold 2,575 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the transaction, the director directly owned 4,045 shares in the company, valued at $1,161,319.50. The trade was a 38.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total value of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares in the company, valued at $3,107,675.72. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 10,684 shares of company stock valued at $3,032,064. 0.65% of the stock is currently owned by 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.