10,535 Shares in ResMed Inc. (NYSE:RMD) Bought by MBB Public Markets I LLC

MBB Public Markets I LLC bought a new position in ResMed Inc. (NYSE:RMD) in the second quarter, according to its most recent filing with the SEC. The firm bought 10,535 shares of the medical equipment provider’s stock, valued at approximately $2,017,000.

Other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in ResMed in the 2nd quarter worth approximately $32,000. BOK Financial Private Wealth Inc. purchased a new position in ResMed during the first quarter worth approximately $35,000. Versant Capital Management Inc increased its position 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 in the last quarter. Financial Connections Group Inc. acquired a new position in shares of ResMed during the 2nd quarter worth approximately $37,000. Finally, Riverview Trust Co acquired a new stake in ResMed in the 1st quarter valued at $42,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the sale, the insider now owns 21,788 shares in the company, valued at approximately $5,502,777.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $246.42, for a total value of $246,420.00. Following the transaction, the chief financial officer now directly owns 96,812 shares in the company, valued at approximately $23,856,413.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the sale, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The disclosure for this sale can be found here. Insiders have sold 102,931 shares of company stock worth $22,644,807 in the last quarter. 1.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on RMD. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Robert W. Baird assumed coverage on ResMed in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $280.00 target price for the company. Royal Bank of Canada lifted their target price on ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Finally, Bank of America upped their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.25.

ResMed Stock Down 1.5 %

Shares of NYSE RMD opened at $239.00 on Monday. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $255.18. The company has a market capitalization of $35.12 billion, a price-to-earnings ratio of 36.71, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. The business has a 50-day moving average of $230.72 and a two-hundred day moving average of $211.44.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share 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 analysts’ expectations of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $1.60 earnings per share. On average, analysts forecast that ResMed Inc. will post 8.92 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were issued a $0.53 dividend. 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 0.89%. The ex-dividend date was Thursday, August 15th. ResMed’s payout ratio is presently 32.57%.

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.