TriaGen Wealth Management LLC bought a new position in ResMed Inc. (NYSE:RMD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,614 shares of the medical equipment provider's stock, valued at approximately $4,028,000. ResMed comprises approximately 1.2% of TriaGen Wealth Management LLC's portfolio, making the stock its 19th largest position.
Several other institutional investors and hedge funds have also recently bought and sold shares of RMD. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of ResMed by 1,168.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider's stock worth $132,272,000 after buying an additional 544,311 shares during the period. Allianz Asset Management GmbH increased its holdings in ResMed by 334.0% during the 1st quarter. Allianz Asset Management GmbH now owns 455,124 shares of the medical equipment provider's stock worth $101,880,000 after purchasing an additional 350,245 shares during the last quarter. Swedbank AB grew its position in shares of ResMed by 445.1% in the 1st quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider's stock worth $88,940,000 after acquiring an additional 324,428 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of ResMed by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider's stock valued at $4,139,815,000 after acquiring an additional 320,240 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of ResMed in the 1st quarter valued at approximately $69,492,000. Institutional investors and hedge funds own 54.98% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on RMD shares. KeyCorp raised their price objective on ResMed from $274.00 to $298.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. UBS Group upgraded shares of ResMed to a "strong-buy" rating in a research report on Tuesday, September 16th. Mizuho boosted their price objective on shares of ResMed from $270.00 to $290.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Citigroup assumed coverage on shares of ResMed in a research note on Thursday, September 18th. They set a "buy" rating and a $330.00 price objective on the stock. Finally, Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $294.20.
Get Our Latest Research Report on ResMed
ResMed Trading Up 1.1%
ResMed stock opened at $281.76 on Tuesday. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $41.12 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 1.87 and a beta of 0.83. The firm has a 50-day moving average price of $278.33 and a two-hundred day moving average price of $254.34.
ResMed (NYSE:RMD - Get Free Report) last announced its quarterly 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 company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. ResMed's revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 earnings per share. Sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.
ResMed Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were paid a dividend of $0.60 per share. This is an increase from ResMed's previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, August 14th. ResMed's dividend payout ratio (DPR) is presently 25.24%.
Insider Transactions at ResMed
In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the transaction, the chief executive officer directly owned 455,503 shares in the company, valued at $127,303,978.44. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. Rider sold 100 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total value of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares of the company's stock, valued at approximately $3,107,675.72. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,734 shares of company stock valued at $3,019,169. Company insiders own 0.71% of the company's stock.
About ResMed
(
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.
Featured Articles

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.
Before you consider ResMed, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ResMed wasn't on the list.
While ResMed currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report