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ResMed Inc. $RMD Shares Purchased by True North Advisors LLC

ResMed logo with Medical background

Key Points

  • True North Advisors LLC increased its stake in ResMed Inc. by 302.2%, now owning 4,847 shares valued at approximately $1.25 million.
  • ResMed's recent earnings report showed a 10.2% year-over-year revenue increase, with EPS of $2.55, surpassing estimates.
  • The company announced a quarterly dividend increase to $0.60 per share, reflecting a 0.9% yield, up from the previous $0.53.
  • Interested in ResMed? Here are five stocks we like better.

True North Advisors LLC boosted its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 302.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,847 shares of the medical equipment provider's stock after buying an additional 3,642 shares during the period. True North Advisors LLC's holdings in ResMed were worth $1,251,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted its stake 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 worth $28,000 after buying an additional 68 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in ResMed by 384.8% in the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after buying an additional 127 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in ResMed in the 1st quarter worth about $45,000. Groupe la Francaise acquired a new stake in ResMed in the 1st quarter worth about $45,000. Finally, CVA Family Office LLC boosted its stake in ResMed by 29.8% in the 1st quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock worth $47,000 after buying an additional 48 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

Shares of NYSE:RMD opened at $267.62 on Friday. The company has a market cap of $39.18 billion, a P/E ratio of 28.14, a PEG ratio of 1.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The business's 50-day simple moving average is $277.50 and its 200 day simple moving average is $251.34.

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, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company's revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $2.08 EPS. On average, sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

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

Insider Activity at ResMed

In other ResMed news, Director John Hernandez sold 2,575 shares of ResMed stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the sale, the director directly owned 4,045 shares in the company, valued at $1,161,319.50. The trade was a 38.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed 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 sale, the chief executive officer owned 455,503 shares in the company, valued at $127,303,978.44. This represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,588 shares of company stock worth $5,289,241. 0.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group raised ResMed to a "strong-buy" rating in a research note on Tuesday, September 16th. KeyCorp lifted their price objective on ResMed from $274.00 to $298.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Royal Bank Of Canada lifted their price objective on ResMed from $294.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Stifel Nicolaus lifted their price objective on ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Finally, Mizuho lifted their price objective on ResMed from $270.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, ResMed presently has an average rating of "Moderate Buy" and an average price target of $294.20.

View Our Latest Stock Analysis on RMD

ResMed Company Profile

(Free Report)

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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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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