Evergreen Capital Management LLC Purchases 378 Shares of ResMed Inc. (NYSE:RMD)

Evergreen Capital Management LLC raised its position in ResMed Inc. (NYSE:RMD) by 36.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,402 shares of the medical equipment provider’s stock after buying an additional 378 shares during the period. Evergreen Capital Management LLC’s holdings in ResMed were worth $268,000 as of its most recent filing with the SEC.

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

Insider Transactions at ResMed

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

ResMed Stock Performance

NYSE RMD opened at $239.00 on Friday. The company’s 50 day simple moving average is $230.00 and its two-hundred day simple moving average is $210.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $255.18. The stock has a market capitalization of $35.12 billion, a PE ratio of 36.71, a P/E/G ratio of 2.46 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $1.20 billion for 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 firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 earnings per share. Analysts predict that ResMed Inc. will post 8.92 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Thursday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio (DPR) is 32.57%.

Wall Street Analyst Weigh In

Several brokerages have commented on RMD. Royal Bank of Canada lifted their price objective on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Robert W. Baird assumed coverage on shares of ResMed in a report on Tuesday. They issued an “outperform” rating and a $280.00 price target on the stock. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Bank of America raised their target price on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $212.25.

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.