Lindenwold Advisors INC Invests $2.13 Million in ResMed Inc. $RMD

Key Points

• Lindenwold Advisors INC invested approximately $2.13 million in ResMed Inc. by acquiring 8,245 shares, positioning the stock as its 27th largest holding.
• CEO Michael J. Farrell sold 8,009 shares for over $2.26 million, reducing his ownership stake by 1.68% but still retaining around 467,792 shares valued at about $132 million.
• ResMed declared an increase in its quarterly dividend to $0.60 per share, reflecting an annualized dividend of $2.40 and a yield of 0.9%.

Lindenwold Advisors INC acquired a new position in ResMed Inc. (NYSE:RMD - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,245 shares of the medical equipment provider's stock, valued at approximately $2,127,000. ResMed comprises approximately 1.1% of Lindenwold Advisors INC's holdings, making the stock its 27th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of the company. ICW Investment Advisors LLC raised its stake in ResMed by 0.4% during the 1st quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider's stock valued at $2,551,000 after purchasing an additional 41 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in ResMed by 3.9% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider's stock valued at $269,000 after purchasing an additional 46 shares during the last quarter. E Fund Management Co. Ltd. raised its stake in ResMed by 2.8% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider's stock valued at $385,000 after purchasing an additional 47 shares during the last quarter. CVA Family Office LLC raised its stake in 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. Finally, V Square Quantitative Management LLC raised its stake in ResMed by 3.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider's stock valued at $451,000 after purchasing an additional 51 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total transaction 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 $132,314,967.20. This trade represents a 1.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael J. Rider sold 100 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares of the company's stock, valued at $3,107,675.72. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,743 shares of company stock valued at $5,284,514 in the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RMD has been the subject of several research analyst reports. UBS Group upgraded shares of ResMed to a "strong-buy" rating in a research note on Tuesday, September 16th. Stifel Nicolaus upped their target price on shares of ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Weiss Ratings reiterated a "buy (b-)" rating on shares of ResMed in a research note on Wednesday. Royal Bank Of Canada boosted their price target on shares of ResMed from $294.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, Piper Sandler boosted their price target on shares of ResMed from $248.00 to $270.00 and gave the company a "neutral" 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 issued a Hold rating to the company's stock. According to MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and an average target price of $294.20.

ResMed Stock Performance

Shares of NYSE:RMD opened at $271.96 on Friday. The company has a market capitalization of $39.69 billion, a price-to-earnings ratio of 28.60, a P/E/G ratio of 1.87 and a beta of 0.83. The firm's 50 day simple moving average is $278.51 and its 200 day simple moving average is $255.46. 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 fifty-two week low of $199.92 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD - Get Free Report) last posted its 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. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same period in the prior year, the business earned $2.08 EPS. ResMed's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.