United Capital Financial Advisors LLC Purchases New Holdings in ResMed Inc. $RMD

United Capital Financial Advisors LLC acquired a new position in ResMed Inc. (NYSE:RMDFree Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,671 shares of the medical equipment provider’s stock, valued at approximately $1,105,000.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of ResMed in the fourth quarter worth approximately $25,000. Bell Investment Advisors Inc acquired a new position in ResMed in the 2nd quarter valued at $26,000. Imprint Wealth LLC purchased a new position in ResMed in the 3rd quarter valued at $26,000. WFA of San Diego LLC acquired a new stake in ResMed during the 2nd quarter worth $26,000. Finally, Sunbelt Securities Inc. acquired a new stake in ResMed during the 3rd quarter worth $31,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RMD has been the subject of a number of recent research reports. Citigroup reiterated a “neutral” rating and issued a $235.00 target price (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. Robert W. Baird set a $213.00 price objective on shares of ResMed in a report on Friday, August 7th. Wells Fargo & Company decreased their target price on shares of ResMed from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Friday, August 7th. Finally, Mizuho dropped their price target on ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $239.38.

Get Our Latest Report on RMD

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the transaction, the director directly owned 52,773 shares in the company, valued at approximately $11,873,925. This represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the sale, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $95,904,196.64. This trade represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 22,973 shares of company stock worth $4,885,436. Corporate insiders own 0.65% of the company’s stock.

ResMed Trading Up 2.0%

Shares of RMD stock opened at $240.47 on Friday. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $284.87. The company’s 50-day moving average price is $211.81 and its 200-day moving average price is $219.18. The stock has a market cap of $34.69 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.51 and a beta of 0.76.

ResMed (NYSE:RMDGet Free Report) last released its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.06. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. ResMed’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $2.55 earnings per share. As a group, equities analysts predict that ResMed Inc. will post 12.03 earnings per share for the current year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.66 per share. The ex-dividend date is Thursday, August 20th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from ResMed’s previous quarterly dividend of $0.60. ResMed’s payout ratio is 25.31%.

About ResMed

(Free Report)

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.

Further Reading

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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