Diversified Trust Co Acquires New Position in ResMed Inc. $RMD

Key Points

• Diversified Trust Co has acquired a new stake in ResMed Inc., purchasing 1,061 shares valued at approximately $274,000.
• ResMed recently reported quarterly earnings of $2.55 per share, exceeding analyst expectations, with revenue up by 10.2% from the previous year.
• The company increased its quarterly dividend from $0.53 to $0.60 per share, representing a $2.40 annualized payout and a yield of 0.9%.

Diversified Trust Co acquired a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,061 shares of the medical equipment provider's stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Global X Japan Co. Ltd. grew its position in ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of 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 last quarter. Zions Bancorporation National Association UT bought a new stake in shares of ResMed during the 1st quarter valued at approximately $45,000. Groupe la Francaise bought a new stake in shares of ResMed during the 1st quarter valued at approximately $45,000. Finally, CVA Family Office LLC grew its holdings in shares of ResMed by 29.8% during the 1st quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock valued at $47,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 54.98% of the company's stock.

ResMed Stock Down 0.4%

Shares of ResMed stock opened at $274.37 on Thursday. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The stock's 50-day moving average is $277.27 and its 200 day moving average is $251.13. The firm has a market cap of $40.17 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.85 and a beta of 0.85.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 25.62% and a net margin of 27.22%.The company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 EPS. Equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current 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. This is a boost from ResMed's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed's payout ratio is currently 25.24%.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 945 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total value of $241,438.05. Following the transaction, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Hernandez sold 2,575 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares in the company, valued at approximately $1,161,319.50. This represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,588 shares of company stock worth $5,289,241. Corporate insiders own 0.71% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RMD shares. Stifel Nicolaus boosted their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a research note on Friday, August 1st. UBS Group upgraded ResMed to a "strong-buy" rating in a research report on Tuesday, September 16th. Citigroup initiated coverage on ResMed in a report on Thursday, September 18th. They set a "buy" rating and a $330.00 price target on the stock. Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Mizuho boosted their price target on ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $292.00.

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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