SlateStone Wealth LLC Boosts Stake in ResMed Inc. (NYSE:RMD)

SlateStone Wealth LLC increased its stake in shares of ResMed Inc. (NYSE:RMD) by 12.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 10,398 shares of the medical equipment provider’s stock after purchasing an additional 1,112 shares during the period. SlateStone Wealth LLC’s holdings in ResMed were worth $1,990,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of ResMed by 24.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after purchasing an additional 35,273 shares during the period. Dimensional Fund Advisors LP boosted its position in ResMed by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider’s stock valued at $92,285,000 after buying an additional 40,605 shares during the period. ICW Investment Advisors LLC boosted its position in ResMed by 2.3% in the 4th quarter. ICW Investment Advisors LLC now owns 11,303 shares of the medical equipment provider’s stock valued at $1,944,000 after buying an additional 249 shares during the period. Los Angeles Capital Management LLC boosted its position in ResMed by 647.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 13,491 shares of the medical equipment provider’s stock valued at $2,321,000 after buying an additional 11,685 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new position in ResMed in the 1st quarter valued at approximately $2,246,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the sale, the insider now owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the sale, the general counsel now owns 10,512 shares of the company’s stock, valued at $2,428,272. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,931 shares of company stock worth $20,326,437. 1.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Royal Bank of Canada raised their price target on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $236.00 price objective on shares of ResMed in a research report on Friday, August 2nd. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Finally, Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $204.70.

ResMed Stock Down 0.3 %

NYSE:RMD traded down $0.78 during midday trading on Monday, hitting $225.86. 445,053 shares of the company were exchanged, compared to its average volume of 1,043,990. The company has a fifty day simple moving average of $207.48 and a 200 day simple moving average of $200.79. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $231.50. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $33.18 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 2.31 and a beta of 0.66.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS 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 analyst estimates of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. ResMed’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 earnings per share. As a group, equities analysts anticipate that ResMed Inc. will post 8.72 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a yield of 0.94%. ResMed’s payout ratio is currently 32.57%.

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.