SkyOak Wealth LLC Purchases Shares of 1,084 ResMed Inc. (NYSE:RMD)

SkyOak Wealth LLC bought a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,084 shares of the medical equipment provider's stock, valued at approximately $243,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RMD. Global X Japan Co. Ltd. lifted its position in shares of ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 68 shares during the last quarter. Colonial Trust Co SC lifted its position in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 125 shares during the last quarter. Optiver Holding B.V. bought a new stake in shares of ResMed during the fourth quarter worth $33,000. Golden State Wealth Management LLC lifted its position in shares of ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its holdings in shares of ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In other ResMed news, Director Witte Jan De sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director directly owned 5,806 shares of the company's stock, valued at approximately $1,413,586.82. The trade was a 25.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $256.72, for a total value of $2,056,070.48. Following the completion of the transaction, the chief executive officer directly owned 455,503 shares of the company's stock, valued at $116,936,730.16. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,013 shares of company stock worth $7,238,913 over the last quarter. Insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RMD. UBS Group decreased their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Mizuho set a $265.00 price objective on ResMed in a report on Wednesday, April 16th. KeyCorp set a $274.00 target price on shares of ResMed in a report on Thursday, April 24th. Finally, Royal Bank Of Canada boosted their target price on shares of ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and a consensus target price of $259.33.

ResMed Stock Performance

NYSE RMD traded down $3.92 during trading hours on Friday, reaching $254.15. The stock had a trading volume of 517,805 shares, compared to its average volume of 969,500. The stock has a fifty day moving average of $250.36 and a 200 day moving average of $236.75. The stock has a market cap of $37.27 billion, a P/E ratio of 28.52, a price-to-earnings-growth ratio of 1.59 and a beta of 0.77. ResMed Inc. has a 52-week low of $196.43 and a 52-week high of $263.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.49 and a current ratio of 3.41.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 25.67% and a net margin of 26.15%. ResMed's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.13 earnings per share. Sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a yield of 0.83%. ResMed's dividend payout ratio is currently 23.79%.

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.