Callan Family Office LLC Increases Stock Position in ResMed Inc. $RMD

Key Points

• The Callan Family Office LLC increased its stake in ResMed Inc. by 30.1%, now holding 8,740 shares valued at approximately $2.25 million.
• Insider trading activity includes CEO Michael J. Farrell selling 8,009 shares for over $2.26 million, resulting in a 1.68% decrease in his ownership.
• ResMed announced a quarterly dividend increase to $0.60 per share, up from $0.53, marking a 0.9% yield based on annualized calculations.

Callan Family Office LLC grew its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 30.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,740 shares of the medical equipment provider's stock after acquiring an additional 2,023 shares during the quarter. Callan Family Office LLC's holdings in ResMed were worth $2,255,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of ResMed by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider's stock worth $4,139,815,000 after buying an additional 320,240 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of ResMed by 2.5% in the first quarter. Northern Trust Corp now owns 1,744,541 shares of the medical equipment provider's stock worth $390,516,000 after buying an additional 41,951 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of ResMed by 4.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 998,128 shares of the medical equipment provider's stock worth $223,431,000 after buying an additional 41,108 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of ResMed by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider's stock worth $218,791,000 after buying an additional 22,789 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of ResMed by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 793,760 shares of the medical equipment provider's stock worth $177,652,000 after buying an additional 51,348 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Activity

In related news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total value of $2,265,345.65. Following the completion of the transaction, the chief executive officer directly owned 467,792 shares of the company's stock, valued at approximately $132,314,967.20. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. Rider sold 100 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the transaction, the general counsel directly owned 11,327 shares of the company's stock, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,743 shares of company stock worth $5,284,514 over the last quarter. Insiders own 0.71% of the company's stock.

ResMed Trading Down 2.1%

ResMed stock opened at $271.96 on Friday. The stock has a market cap of $39.69 billion, a P/E ratio of 28.60, a PEG ratio of 1.83 and a beta of 0.83. 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 $293.81. The firm's 50 day moving average price is $278.51 and its 200-day moving average price is $255.69.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating 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 company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 earnings per share. On average, equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, August 14th. This is an increase from ResMed's previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed's dividend payout ratio (DPR) is 25.24%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RMD shares. UBS Group raised shares of ResMed to a "strong-buy" rating in a report on Tuesday, September 16th. Weiss Ratings restated a "buy (b-)" rating on shares of ResMed in a research note on Wednesday. Royal Bank Of Canada raised their target price on shares of ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. KeyCorp raised their target price on shares of ResMed from $274.00 to $298.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Mizuho raised their target price on shares of ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $294.20.

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.

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