ResMed Inc. $RMD Shares Acquired by Creative Planning

Creative Planning lifted its holdings in ResMed Inc. (NYSE:RMD) by 5.9% during the second quarter, Holdings Channel reports. The fund owned 31,705 shares of the medical equipment provider’s stock after buying an additional 1,765 shares during the quarter. Creative Planning’s holdings in ResMed were worth $8,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Zions Bancorporation National Association UT purchased a new stake in ResMed in the first quarter valued at $45,000. Groupe la Francaise acquired a new position in shares of ResMed in the 1st quarter valued at about $45,000. Harbour Investments Inc. boosted its stake in shares of ResMed by 264.2% in the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 177 shares during the last quarter. Quarry LP grew its holdings in ResMed by 141.1% during the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after acquiring an additional 182 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in ResMed during the second quarter valued at approximately $83,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $252.05, for a total transaction of $504,100.00. Following the completion of the transaction, the director owned 66,110 shares of the company’s stock, valued at $16,663,025.50. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,011 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $249.75, for a total value of $2,000,747.25. Following the completion of the transaction, the chief executive officer owned 467,866 shares in the company, valued at approximately $116,849,533.50. This trade represents a 1.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,607 shares of company stock valued at $4,919,501 in the last 90 days. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RMD shares. UBS Group upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 16th. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada increased their price target on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Citigroup initiated coverage on shares of ResMed in a research report on Thursday, September 18th. They issued a “buy” rating and a $330.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $297.45.

ResMed Price Performance

ResMed stock opened at $245.18 on Thursday. The stock has a market capitalization of $35.78 billion, a P/E ratio of 25.78, a P/E/G ratio of 1.75 and a beta of 0.87. The company’s fifty day moving average price is $264.42 and its 200 day moving average price is $263.15. 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 Inc. has a 1 year low of $199.92 and a 1 year high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $1.33 billion. During the same period last year, the firm posted $2.20 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed 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. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s payout ratio is presently 24.56%.

ResMed 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.