Inspire Advisors LLC Raises Stock Holdings in ResMed Inc. $RMD

Inspire Advisors LLC increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 124.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,989 shares of the medical equipment provider’s stock after acquiring an additional 3,316 shares during the quarter. Inspire Advisors LLC’s holdings in ResMed were worth $1,545,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RMD. ICW Investment Advisors LLC increased its position in shares of ResMed by 0.4% during the 1st quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock valued at $2,551,000 after purchasing an additional 41 shares during the last quarter. Johnson Investment Counsel Inc. grew its position in ResMed by 2.8% during the second 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 grew its position in ResMed by 3.9% during the first quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock valued at $269,000 after buying an additional 46 shares during the period. E Fund Management Co. Ltd. increased its holdings in 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 worth $385,000 after buying an additional 47 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its position in ResMed by 3.0% in the second quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider’s stock worth $451,000 after acquiring an additional 51 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $244.99 on Tuesday. The firm has a market capitalization of $35.75 billion, a P/E ratio of 25.76, a PEG ratio of 1.75 and a beta of 0.87. 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 current ratio of 3.44 and a quick ratio of 2.53. The business has a fifty day moving average price of $265.58 and a 200-day moving average price of $263.23.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm posted $2.20 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

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

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 8,011 shares of the 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 sale, the chief executive officer directly owned 467,866 shares in the company, valued at $116,849,533.50. This represents a 1.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Witte Jan De sold 487 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $250.25, for a total value of $121,871.75. Following the transaction, the director owned 5,319 shares of the company’s stock, valued at approximately $1,331,079.75. The trade was a 8.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 18,607 shares of company stock worth $4,919,501. Insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

RMD has been the subject of a number of research reports. Wells Fargo & Company initiated coverage on shares of ResMed in a research report on Monday, October 13th. They set an “equal weight” rating and a $280.00 target price for the company. Stifel Nicolaus increased their price objective on ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 1st. Weiss Ratings lowered ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. William Blair upgraded ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada lifted their price objective on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.45.

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.