9,773 Shares in ResMed Inc. $RMD Bought by Callan Family Office LLC

Key Points

• Callan Family Office LLC acquired 9,773 ResMed shares worth approximately $1.9 million in the second quarter. Institutional investors and hedge funds collectively own 54.98% of ResMed.
• ResMed reported quarterly EPS of $2.95, beating estimates by $0.06, while revenue rose 8.6% year over year to $1.46 billion. The company also increased its quarterly dividend from $0.60 to $0.66 per share.
• Analysts maintain a consensus “Hold” rating with an average price target of $239.38, while insiders sold 22,973 shares worth about $4.9 million over the past three months.

Callan Family Office LLC acquired a new position in ResMed Inc. (NYSE:RMD - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,773 shares of the medical equipment provider's stock, valued at approximately $1,905,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Imprint Wealth LLC acquired a new stake in shares of ResMed in the third quarter valued at about $26,000. WFA of San Diego LLC purchased a new position in ResMed in the second quarter valued at about $26,000. International Assets Investment Management LLC purchased a new position in ResMed in the fourth quarter valued at about $25,000. Sunbelt Securities Inc. purchased a new position in ResMed in the third quarter valued at about $31,000. Finally, Bell Investment Advisors Inc acquired a new stake in shares of ResMed during the 2nd quarter valued at approximately $26,000. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Trading Up 0.0%

Shares of RMD stock opened at $231.62 on Monday. The firm's 50-day simple moving average is $207.22 and its 200-day simple moving average is $219.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81. The firm has a market cap of $33.41 billion, a P/E ratio of 22.21, a PEG ratio of 1.45 and a beta of 0.76.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.89 by $0.06. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. ResMed's revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.55 earnings per share. As a group, equities analysts forecast that ResMed Inc. will post 12.03 EPS for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $2.64 annualized dividend and a dividend yield of 1.1%. This is a boost from ResMed's previous quarterly dividend of $0.60. ResMed's dividend payout ratio is presently 25.31%.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the sale, the chief executive officer directly owned 466,256 shares in the company, valued at $95,904,196.64. This represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the transaction, the director directly owned 52,773 shares in the company, valued at $11,873,925. This trade represents a 13.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,973 shares of company stock valued at $4,885,436 over the last three months. Corporate insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank Of Canada upped their target price on ResMed from $234.00 to $244.00 and gave the company a "sector perform" rating in a report on Friday, August 7th. Piper Sandler lowered their price objective on shares of ResMed from $233.00 to $225.00 and set a "neutral" rating on the stock in a research note on Friday, August 7th. Mizuho lowered their price objective on shares of ResMed from $235.00 to $220.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 15th. Jefferies Financial Group dropped their target price on shares of ResMed from $240.00 to $225.00 and set a "hold" rating for the company in a report on Friday, July 10th. Finally, UBS Group restated a "buy" rating and set a $300.00 target price on shares of ResMed in a research report on Tuesday, July 21st. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, ResMed has a consensus rating of "Hold" and an average price target of $239.38.

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.

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