Aprio Wealth Management LLC Invests $369,000 in ResMed Inc. $RMD

Key Points

• Aprio Wealth Management LLC has acquired a new position in ResMed Inc., purchasing 1,648 shares valued at approximately $369,000 in the first quarter of the year.
• ResMed Inc. reported earnings per share of $2.55 for the latest quarter, exceeding analysts' expectations, with a year-over-year revenue increase of 10.2%.
• The company recently announced a quarterly dividend of $0.60 per share, a boost from the previous dividend of $0.53, indicating a commitment to returning value to shareholders.

Aprio Wealth Management LLC bought a new position in ResMed Inc. (NYSE:RMD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,648 shares of the medical equipment provider's stock, valued at approximately $369,000.

Other large investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. increased its holdings in ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 68 shares during the period. Colonial Trust Co SC grew its holdings in ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 125 shares during the last quarter. Golden State Wealth Management LLC lifted its position in ResMed by 384.8% during the 1st 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. Zions Bancorporation National Association UT acquired a new stake in shares of ResMed in the 1st quarter valued at approximately $45,000. Finally, Groupe la Francaise acquired a new stake in ResMed during the 1st quarter worth approximately $45,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

RMD traded up $2.33 on Monday, hitting $279.38. 688,450 shares of the company's stock traded hands, compared to its average volume of 1,003,292. The company's 50 day simple moving average is $272.54 and its 200-day simple moving average is $247.50. The firm has a market cap of $40.90 billion, a price-to-earnings ratio of 29.38, a P/E/G ratio of 1.85 and a beta of 0.85. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.

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

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, August 14th. This is a boost from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio (DPR) is presently 25.24%.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the transaction, the chief executive officer directly owned 455,503 shares in the company, valued at approximately $127,303,978.44. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Hernandez sold 2,575 shares of ResMed stock in a transaction on Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the sale, the director directly owned 4,045 shares of the company's stock, valued at $1,161,319.50. The trade was a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,588 shares of company stock worth $5,289,241 over the last quarter. 0.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RMD has been the subject of a number of research analyst reports. Wall Street Zen cut shares of ResMed from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. CLSA upgraded ResMed from a "hold" rating to an "outperform" rating in a report on Tuesday, September 2nd. 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 report on Friday, August 1st. Piper Sandler lifted their target price on ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, UBS Group lifted their target price on ResMed from $285.00 to $325.00 and gave the company a "buy" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $278.36.

ResMed Profile

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.