ResMed Inc. (NYSE:RMD) Shares Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. raised its stake in shares of ResMed Inc. (NYSE:RMD) by 38.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,654 shares of the medical equipment provider’s stock after purchasing an additional 1,022 shares during the period. Wedbush Securities Inc.’s holdings in ResMed were worth $699,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC acquired a new position in ResMed during the fourth quarter worth approximately $27,000. BOK Financial Private Wealth Inc. acquired a new position in ResMed during the first quarter worth approximately $35,000. OFI Invest Asset Management acquired a new position in ResMed during the second quarter worth approximately $32,000. Versant Capital Management Inc increased its position in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new position in ResMed during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD stock opened at $252.92 on Thursday. The company has a market capitalization of $37.16 billion, a PE ratio of 38.85, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69. The firm has a fifty day simple moving average of $219.64 and a 200-day simple moving average of $206.06. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $255.18.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that ResMed Inc. will post 8.91 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business 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 dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.84%. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, August 15th. ResMed’s dividend payout ratio is 32.57%.

Insider Buying and Selling at ResMed

In other ResMed news, insider Justin Leong sold 48,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $115,290,296.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Justin Leong sold 48,000 shares of the firm’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 completion of the transaction, the insider now owns 18,741 shares in the company, valued at $4,068,108.87. The disclosure for this sale can be found here. Insiders have sold 97,931 shares of company stock worth $21,382,007 in the last ninety days. 1.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on RMD. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Royal Bank of Canada increased their price objective on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. KeyCorp increased their price objective on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, ResMed currently has an average rating of “Hold” and a consensus target price of $204.70.

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.