Kingswood Wealth Advisors LLC Lowers Holdings in ResMed Inc. $RMD

Kingswood Wealth Advisors LLC decreased its holdings in ResMed Inc. (NYSE:RMD) by 13.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 837 shares of the medical equipment provider’s stock after selling 132 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in ResMed were worth $216,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global X Japan Co. Ltd. lifted its stake in ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 68 shares during the last quarter. Golden State Wealth Management LLC lifted its stake 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 worth $36,000 after acquiring an additional 127 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in ResMed in the first quarter worth approximately $45,000. Groupe la Francaise purchased a new position in ResMed in the first quarter worth approximately $45,000. Finally, CVA Family Office LLC lifted its stake in ResMed by 29.8% in the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider’s stock worth $47,000 after acquiring an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of ResMed stock opened at $271.96 on Friday. The firm’s fifty day simple moving average is $278.51 and its 200-day simple moving average is $255.69. The stock has a market capitalization of $39.69 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 1.83 and a beta of 0.83. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. 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 (NYSE:RMD) last announced its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 EPS. As a group, equities analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

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

Insider Buying and Selling at ResMed

In other ResMed news, Director John Hernandez sold 2,575 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the transaction, the director directly owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. The trade was a 38.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael J. Rider sold 100 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of 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 can be found here. In the last three months, insiders have sold 18,743 shares of company stock valued at $5,284,514. 0.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. KeyCorp lifted their price target on shares of ResMed from $274.00 to $298.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of ResMed in a research report on Wednesday. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Stifel Nicolaus boosted their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $294.20.

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.