ResMed Inc. (NYSE:RMD) Shares Purchased by Carnegie Investment Counsel

Carnegie Investment Counsel raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,230 shares of the medical equipment provider’s stock after acquiring an additional 200 shares during the quarter. Carnegie Investment Counsel’s holdings in ResMed were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Dorsey & Whitney Trust CO LLC increased its position in ResMed by 3.7% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock worth $292,000 after purchasing an additional 52 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of ResMed by 4.5% during the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after buying an additional 56 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of ResMed by 1.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after buying an additional 60 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of ResMed by 7.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock valued at $155,000 after buying an additional 64 shares during the period. Finally, Gulf International Bank UK Ltd boosted its position in ResMed by 0.5% during the first quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock worth $2,497,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $211.66, for a total transaction of $3,107,803.78. Following the completion of the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $93,299,516.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $211.66, for a total value of $3,107,803.78. Following the completion of the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $93,299,516.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares in the company, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,049 shares of company stock valued at $20,122,695. 1.21% of the stock is currently owned by insiders.

ResMed Trading Up 0.1 %

Shares of RMD stock traded up $0.30 during mid-day trading on Wednesday, reaching $223.45. The company’s stock had a trading volume of 133,399 shares, compared to its average volume of 1,048,805. The company’s 50 day simple moving average is $206.38 and its 200-day simple moving average is $199.74. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $231.50. The firm has a market capitalization of $32.83 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 2.26 and a beta of 0.66.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 earnings per share. On average, research analysts predict that ResMed Inc. will post 8.72 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. ResMed’s dividend payout ratio (DPR) is currently 32.57%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Needham & Company LLC reiterated a “buy” rating and set a $236.00 price objective on shares of ResMed in a report on Friday, August 2nd. Finally, Royal Bank of Canada boosted their target price on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.70.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.