Andina Capital Management LLC Acquires New Shares in ResMed Inc. $RMD

Key Points

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Andina Capital Management LLC acquired a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,774 shares of the medical equipment provider's stock, valued at approximately $397,000.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RMD shares. William Blair raised ResMed to a "strong-buy" rating in a report on Friday, August 1st. Mizuho lifted their price objective on ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Morgan Stanley set a $286.00 target price on ResMed and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Stifel Nicolaus lifted their price target on ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Finally, Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and an average price target of $274.83.

ResMed Trading Up 0.4%

Shares of RMD stock opened at $286.17 on Tuesday. The company's fifty day simple moving average is $264.88 and its two-hundred day simple moving average is $243.23. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.08. The stock has a market capitalization of $41.90 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 1.91 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.08. The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.08 earnings per share. As a group, analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

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

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 945 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total transaction of $241,438.05. Following the completion of the sale, the director directly owned 68,273 shares in the company, valued at approximately $17,443,068.77. This represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $279.48, for a total transaction of $2,238,355.32. Following the completion of the transaction, the chief executive officer directly owned 455,503 shares of the company's stock, valued at approximately $127,303,978.44. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,063 shares of company stock valued at $6,571,895. 0.71% of the stock is currently owned by company insiders.

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.

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