Benjamin F. Edwards & Company Inc. Increases Position in ResMed Inc. (NYSE:RMD)

Benjamin F. Edwards & Company Inc. grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 46.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 39,069 shares of the medical equipment provider’s stock after purchasing an additional 12,326 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in ResMed were worth $7,479,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RMD. Bank of New York Mellon Corp raised its stake in ResMed by 230.3% during the first quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock valued at $755,112,000 after buying an additional 2,658,709 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of ResMed by 3,599.0% during the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after acquiring an additional 485,540 shares in the last quarter. Greenvale Capital LLP raised its position in shares of ResMed by 198.3% in the 4th quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock worth $94,938,000 after purchasing an additional 366,901 shares during the last quarter. Renaissance Technologies LLC bought a new position in ResMed in the 2nd quarter worth about $42,036,000. Finally, Nordea Investment Management AB grew its position in ResMed by 1,844.6% during the 1st quarter. Nordea Investment Management AB now owns 189,652 shares of the medical equipment provider’s stock valued at $37,506,000 after purchasing an additional 179,899 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

ResMed Price Performance

NYSE RMD opened at $244.90 on Friday. The stock has a market capitalization of $35.98 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 2.50 and a beta of 0.69. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $255.18. 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’s fifty day moving average price is $226.91 and its 200-day moving average price is $209.22.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating 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%. ResMed’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 earnings per share. On average, equities analysts predict that ResMed Inc. will post 8.92 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. ResMed’s dividend payout ratio (DPR) is presently 32.57%.

Analyst Ratings Changes

Several research analysts have issued reports on RMD shares. Royal Bank of Canada lifted their target price 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. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price target on shares of ResMed in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $199.70.

Insider Activity at ResMed

In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Michael J. Farrell sold 14,683 shares of the business’s 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 transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $85,060,983.03. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $194.35, for a total transaction of $194,350.00. Following the sale, the chief financial officer now owns 90,056 shares in the company, valued at approximately $17,502,383.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,931 shares of company stock worth $22,644,807. 1.21% of the stock is owned by company insiders.

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.