TKG Advisors LLC Takes $496,000 Position in ResMed Inc. (NYSE:RMD)

TKG Advisors LLC bought a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,216 shares of the medical equipment provider's stock, valued at approximately $496,000.

Other institutional investors also recently modified their holdings of the company. Global X Japan Co. Ltd. raised 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 purchasing an additional 68 shares in the last quarter. Colonial Trust Co SC increased its holdings 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 period. Optiver Holding B.V. acquired a new stake in shares of ResMed in the fourth quarter valued at approximately $33,000. Golden State Wealth Management LLC boosted its stake in shares of ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 127 shares during the period. Finally, Itau Unibanco Holding S.A. boosted its stake 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 buying an additional 150 shares during the period. Institutional investors own 54.98% of the company's stock.

ResMed Price Performance

NYSE:RMD traded up $1.08 on Friday, hitting $256.96. The company had a trading volume of 391,893 shares, compared to its average volume of 969,821. ResMed Inc. has a 52 week low of $188.56 and a 52 week high of $263.05. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $37.68 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 1.60 and a beta of 0.77. The firm has a 50 day moving average of $248.01 and a two-hundred day moving average of $235.81.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business earned $2.13 earnings per share. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, research analysts anticipate 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. Shareholders of record on Thursday, May 8th were given a $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.83%. ResMed's dividend payout ratio is presently 23.79%.

Insider Activity

In other news, Director Witte Jan De sold 2,000 shares of the company'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 owned 5,806 shares of the company's stock, valued at $1,413,586.82. This represents a 25.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 945 shares of ResMed stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total transaction of $241,438.05. Following the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 29,013 shares of company stock valued at $6,863,532. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Piper Sandler decreased their price target on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. KeyCorp set a $274.00 target price on shares of ResMed in a report on Thursday, April 24th. Finally, UBS Group dropped their target price on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $259.33.

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.