W.H. Cornerstone Investments Inc. Makes New Investment in ResMed Inc. $RMD

W.H. Cornerstone Investments Inc. purchased a new stake in ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 810 shares of the medical equipment provider’s stock, valued at approximately $209,000.

Other large investors have also bought and sold shares of the company. ICW Investment Advisors LLC lifted its stake in shares of ResMed by 0.4% in the first quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock valued at $2,551,000 after buying an additional 41 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock valued at $430,000 after buying an additional 45 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of ResMed by 3.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock valued at $269,000 after purchasing an additional 46 shares during the period. E Fund Management Co. Ltd. grew its holdings in shares of ResMed by 2.8% during the first quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock valued at $385,000 after buying an additional 47 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of ResMed by 3.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider’s stock valued at $451,000 after purchasing an additional 51 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

ResMed Stock Performance

Shares of NYSE RMD traded up $0.22 during trading on Thursday, reaching $253.08. The stock had a trading volume of 113,647 shares, compared to its average volume of 1,014,393. 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. The stock has a market cap of $36.93 billion, a PE ratio of 26.59, a P/E/G ratio of 1.75 and a beta of 0.87. The firm’s 50 day moving average price is $267.36 and its two-hundred day moving average price is $262.80.

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

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed’s dividend payout ratio (DPR) is currently 24.56%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RMD shares. Morgan Stanley set a $305.00 price target on ResMed in a research note on Friday, October 31st. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. UBS Group raised ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. Royal Bank Of Canada upped their price objective on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, Wells Fargo & Company assumed coverage on shares of ResMed in a research note on Monday, October 13th. They set an “equal weight” rating and a $280.00 target price on the stock. 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 company. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average target price of $297.45.

Insiders Place Their Bets

In other news, General Counsel Michael J. Rider sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the sale, the general counsel owned 11,327 shares in the company, valued at $3,107,675.72. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Hernandez sold 2,575 shares of the company’s stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 18,695 shares of company stock worth $5,032,811. Company insiders own 0.65% of the company’s stock.

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.