CFO4Life Group LLC Takes Position in ResMed Inc. $RMD

CFO4Life Group LLC bought a new position in shares of ResMed Inc. (NYSE:RMD) in the second quarter, HoldingsChannel reports. The institutional investor bought 2,272 shares of the medical equipment provider’s stock, valued at approximately $443,000.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in ResMed during the 2nd quarter worth about $2,400,375,000. Bank of New York Mellon Corp acquired a new stake in shares of ResMed during the 2nd quarter worth approximately $818,030,000. Deutsche Bank AG acquired a new stake in shares of ResMed during the 2nd quarter worth approximately $257,692,000. First Trust Advisors LP raised its stake in shares of ResMed by 240.9% during the fourth quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock worth $365,542,000 after buying an additional 1,072,394 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of ResMed during the fourth quarter worth approximately $249,068,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 8,000 shares of ResMed stock in a transaction 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 owned 52,773 shares in the company, valued at approximately $11,873,925. This trade represents a 13.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the business’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 transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at $95,904,196.64. This trade represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,973 shares of company stock worth $4,885,436 over the last three months. 0.65% of the stock is currently owned by insiders.

ResMed Stock Up 1.4%

Shares of NYSE RMD opened at $231.62 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 3.10. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $293.81. The stock has a market capitalization of $33.41 billion, a P/E ratio of 22.21, a PEG ratio of 1.45 and a beta of 0.76. The stock’s fifty day moving average is $207.22 and its 200 day moving average is $220.07.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. ResMed’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that ResMed Inc. will post 12.03 earnings per share for the current fiscal year.

ResMed Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Jefferies Financial Group dropped their target price on shares of ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a report on Friday, July 10th. Citigroup reaffirmed a “neutral” rating and set a $235.00 price target (down from $270.00) on shares of ResMed in a research note on Sunday, July 12th. Rothschild & Co Redburn assumed coverage on ResMed in a research note on Wednesday. They set a “neutral” rating and a $230.00 price objective on the stock. Finally, Wells Fargo & Company decreased their price objective on shares of ResMed from $225.00 to $215.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $239.38.

ResMed Company Profile

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.