CCLA Investment Management Buys 830 Shares of ResMed Inc. (NYSE:RMD)

CCLA Investment Management grew its position in shares of ResMed Inc. (NYSE:RMD) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,316 shares of the medical equipment provider’s stock after purchasing an additional 830 shares during the quarter. CCLA Investment Management’s holdings in ResMed were worth $5,429,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new position in ResMed during the first quarter worth $35,000. OFI Invest Asset Management acquired a new stake in ResMed during the 2nd quarter worth about $32,000. Versant Capital Management Inc raised its position in shares of ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 120 shares in the last quarter. Financial Connections Group Inc. acquired a new position in shares of ResMed in the 2nd quarter valued at about $37,000. Finally, Riverview Trust Co bought a new stake in shares of ResMed during the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Royal Bank of Canada raised their price target on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Finally, KeyCorp upped their price objective on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, ResMed currently has a consensus rating of “Hold” and an average price target of $204.70.

Insider Activity

In related news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at $17,502,383.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at $85,060,983.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $194.35, for a total value of $194,350.00. Following the completion of the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at approximately $17,502,383.60. The disclosure for this sale can be found here. Insiders sold a total of 102,931 shares of company stock worth $22,644,807 over the last quarter. Insiders own 1.21% of the company’s stock.

ResMed Price Performance

RMD stock opened at $250.88 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The business has a 50-day simple moving average of $224.34 and a two-hundred day simple moving average of $208.32. The company has a market capitalization of $36.86 billion, a P/E ratio of 38.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.69. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $255.18.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. ResMed’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 earnings per share. Research analysts expect that ResMed Inc. will post 8.92 EPS for the current fiscal year.

ResMed Increases Dividend

The company 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 $0.53 dividend. This is a positive change 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 0.85%. ResMed’s dividend payout ratio is presently 32.57%.

ResMed Profile

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.