SGL Investment Advisors Inc. Buys Shares of 12,531 ResMed Inc. (NYSE:RMD)

Key Points

• SGL Investment Advisors Inc. acquired 12,531 shares of ResMed Inc. valued at approximately $3,046,000, as reported in a recent SEC filing.
• Several institutional investors increased their positions in ResMed during the fourth quarter, with Invesco Ltd. raising its stake by 32.2%.
• ResMed announced a quarterly dividend of $0.60 per share, representing an increase from the previous dividend of $0.53, and will be paid on September 18th.

SGL Investment Advisors Inc. acquired a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 12,531 shares of the medical equipment provider's stock, valued at approximately $3,046,000.

A number of other institutional investors have also added to or reduced their stakes in RMD. Ballentine Partners LLC increased its position in shares of ResMed by 6.3% during the first quarter. Ballentine Partners LLC now owns 1,782 shares of the medical equipment provider's stock valued at $399,000 after acquiring an additional 105 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 127 shares during the period. Exchange Traded Concepts LLC grew its holdings in ResMed by 393.0% during the first quarter. Exchange Traded Concepts LLC now owns 2,529 shares of the medical equipment provider's stock valued at $566,000 after purchasing an additional 2,016 shares during the period. MML Investors Services LLC grew its holdings in ResMed by 31.9% during the fourth quarter. MML Investors Services LLC now owns 11,468 shares of the medical equipment provider's stock valued at $2,623,000 after purchasing an additional 2,771 shares during the period. Finally, Private Advisor Group LLC grew its holdings in ResMed by 18.3% during the first quarter. Private Advisor Group LLC now owns 3,244 shares of the medical equipment provider's stock valued at $726,000 after purchasing an additional 501 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Down 2.8%

Shares of RMD stock traded down $8.22 during trading hours on Tuesday, hitting $283.22. 758,583 shares of the company's stock traded hands, compared to its average volume of 999,400. The stock's fifty day simple moving average is $257.55 and its two-hundred day simple moving average is $240.75. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.08. The stock has a market cap of $41.53 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 1.72 and a beta of 0.77. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts' consensus estimates of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business earned $2.08 EPS. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $2.40 annualized dividend and a yield of 0.8%. This is an increase from ResMed's previous quarterly dividend of $0.53. ResMed's payout ratio is currently 25.24%.

Insider Buying and Selling

In related news, Director Witte Jan De sold 2,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director owned 5,806 shares of the company's stock, valued at approximately $1,413,586.82. This represents a 25.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total transaction of $484,500.00. Following the completion of the transaction, the director directly owned 71,218 shares of the company's stock, valued at $17,252,560.50. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,063 shares of company stock valued at $7,253,008. Company insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RMD shares. Piper Sandler increased their price objective on ResMed from $248.00 to $270.00 and gave the company a "neutral" rating in a report on Friday. Morgan Stanley set a $286.00 price objective on ResMed and gave the company an "overweight" rating in a report on Tuesday, May 20th. William Blair upgraded ResMed to a "strong-buy" rating in a research report on Friday. KeyCorp increased their target price on ResMed from $274.00 to $298.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Royal Bank Of Canada increased their target price on ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $274.83.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.