Marshall Financial Group LLC Raises Stake in ResMed Inc. (NYSE:RMD)

Marshall Financial Group LLC boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 4.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 10,472 shares of the medical equipment provider’s stock after purchasing an additional 441 shares during the period. Marshall Financial Group LLC’s holdings in ResMed were worth $2,074,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in RMD. Atlantic Edge Private Wealth Management LLC bought a new position in shares of ResMed during the 4th quarter valued at approximately $27,000. Planned Solutions Inc. bought a new stake in shares of ResMed in the 4th quarter worth approximately $34,000. Riverview Trust Co purchased a new position in ResMed in the first quarter valued at approximately $42,000. MV Capital Management Inc. grew its holdings in ResMed by 39.0% during the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in ResMed in the fourth quarter worth $45,000. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

NYSE:RMD traded up $0.05 during trading hours on Thursday, hitting $189.40. The stock had a trading volume of 383,824 shares, compared to its average volume of 1,281,715. The company has a 50 day simple moving average of $208.82 and a two-hundred day simple moving average of $191.63. The firm has a market capitalization of $27.82 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 1.64 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. ResMed Inc. has a one year low of $132.24 and a one year high of $229.97.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the business posted $1.68 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that ResMed Inc. will post 7.7 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.01%. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Mizuho reaffirmed a “buy” rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $236.00 price objective on shares of ResMed in a report on Monday, June 24th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Royal Bank of Canada boosted their price target on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Finally, KeyCorp raised their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.80.

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 Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the sale, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at $95,422,808. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares in the company, valued at approximately $1,815,214.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the transaction, the chief executive officer now owns 440,752 shares in the company, valued at $95,422,808. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,151 shares of company stock valued at $6,666,409. 1.21% of the stock is owned by corporate insiders.

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.