Claro Advisors LLC Makes New Investment in ResMed Inc. (NYSE:RMD)

Claro Advisors LLC purchased a new stake in shares of ResMed Inc. (NYSE:RMD) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,994 shares of the medical equipment provider’s stock, valued at approximately $791,000.

Other large investors have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of ResMed during the 4th quarter valued at about $27,000. Planned Solutions Inc. bought a new position in shares of ResMed in the fourth quarter valued at approximately $34,000. Riverview Trust Co acquired a new stake in shares of ResMed in the first quarter worth $42,000. MV Capital Management Inc. boosted its holdings in shares of ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 60 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in ResMed in the 4th quarter valued at $45,000. 54.98% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $209.81, for a total value of $209,810.00. Following 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Monday, June 10th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Witte Jan De sold 360 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the sale, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,151 shares of company stock valued at $6,666,409. 1.21% of the stock is owned by insiders.

ResMed Stock Down 2.3 %

Shares of NYSE RMD opened at $186.93 on Tuesday. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $229.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The stock has a market cap of $27.46 billion, a P/E ratio of 28.71, a P/E/G ratio of 1.88 and a beta of 0.66. The firm has a 50 day moving average price of $208.47 and a 200 day moving average price of $191.40.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 earnings per share. Analysts expect that ResMed Inc. will post 7.7 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 9th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s payout ratio is 29.49%.

Analyst Ratings Changes

RMD has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their target price on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. KeyCorp increased their target price on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Mizuho restated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Finally, Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed Company 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.