ICW Investment Advisors LLC Has $2.14 Million Stake in ResMed Inc. (NYSE:RMD)

ICW Investment Advisors LLC decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,201 shares of the medical equipment provider’s stock after selling 240 shares during the quarter. ICW Investment Advisors LLC’s holdings in ResMed were worth $2,144,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC acquired a new position in ResMed during the fourth quarter worth about $27,000. BOK Financial Private Wealth Inc. acquired a new position in ResMed during the first quarter worth about $35,000. OFI Invest Asset Management acquired a new position in shares of ResMed in the second quarter valued at approximately $32,000. Versant Capital Management Inc increased its stake in shares of ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 120 shares during the period. Finally, Financial Connections Group Inc. acquired a new position in shares of ResMed in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, General Counsel Michael J. Rider sold 882 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the sale, the general counsel now owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the sale, the general counsel now owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction on Monday, June 10th. The shares were sold at an average price of $209.81, for a total transaction of $209,810.00. Following the completion of the sale, the chief financial officer now directly owns 91,056 shares of the company’s stock, valued at approximately $19,104,459.36. The disclosure for this sale can be found here. Insiders sold a total of 81,248 shares of company stock valued at $17,218,633 in the last quarter. 1.21% of the stock is currently owned by company insiders.

ResMed Trading Up 0.5 %

RMD stock traded up $1.27 during trading on Friday, hitting $246.05. The company had a trading volume of 79,279 shares, compared to its average volume of 1,039,591. The stock has a market cap of $36.15 billion, a PE ratio of 37.60, a PEG ratio of 2.44 and a beta of 0.69. ResMed Inc. has a one year low of $132.24 and a one year high of $247.73. The business has a 50-day moving average of $214.78 and a 200-day moving average of $203.99. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS 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 net margin of 21.79% and a return on equity of 25.00%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 EPS. Research analysts predict that ResMed Inc. will post 8.91 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.53 per share. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. ResMed’s dividend payout ratio (DPR) is 32.57%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RMD shares. Needham & Company LLC downgraded ResMed from a “buy” rating to a “hold” rating and set a $236.00 price objective for the company. in a research note on Wednesday. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Royal Bank of Canada upped their price objective on ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Finally, KeyCorp upped their price objective on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.