7,467 Shares in ResMed Inc. $RMD Purchased by Diversify Wealth Management LLC

Diversify Wealth Management LLC acquired a new stake in shares of ResMed Inc. (NYSE:RMD) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,467 shares of the medical equipment provider’s stock, valued at approximately $1,583,000.

Other large investors also recently added to or reduced their stakes in the company. Imprint Wealth LLC bought a new position in ResMed in the 3rd quarter worth about $26,000. WFA of San Diego LLC bought a new stake in shares of ResMed during the second quarter valued at approximately $26,000. International Assets Investment Management LLC bought a new stake in shares of ResMed during the fourth quarter valued at approximately $25,000. ORG Partners LLC boosted its holdings in shares of ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 69 shares during the period. Finally, Sunbelt Securities Inc. purchased a new stake in shares of ResMed in the third quarter valued at approximately $31,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total value of $1,090,783.05. Following the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at $101,893,036.65. The trade was a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 14,973 shares of company stock valued at $3,096,067. 0.65% of the stock is currently owned by company insiders.

ResMed Trading Down 2.6%

Shares of NYSE RMD opened at $193.28 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The stock has a market capitalization of $28.04 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81. The business has a fifty day moving average price of $199.87 and a 200 day moving average price of $227.45.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company earned $2.37 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts expect that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is currently 23.14%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RMD shares. KeyCorp lowered their price objective on shares of ResMed from $290.00 to $266.00 and set an “overweight” rating for the company in a research note on Monday, June 22nd. Jefferies Financial Group cut their target price on shares of ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday. Weiss Ratings lowered shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Wells Fargo & Company lowered their price target on shares of ResMed from $227.00 to $225.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Finally, Robert W. Baird set a $225.00 price objective on shares of ResMed in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $260.17.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.