ResMed Inc. $RMD Shares Acquired by Jacobi Capital Management LLC

Jacobi Capital Management LLC raised its position in shares of ResMed Inc. (NYSE:RMD) by 11.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,248 shares of the medical equipment provider’s stock after purchasing an additional 124 shares during the period. Jacobi Capital Management LLC’s holdings in ResMed were worth $279,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC raised its holdings in shares of ResMed by 63.2% during the first quarter. Intech Investment Management LLC now owns 15,325 shares of the medical equipment provider’s stock valued at $3,430,000 after acquiring an additional 5,934 shares during the period. Capital Impact Advisors LLC acquired a new position in ResMed in the first quarter worth about $8,537,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in ResMed by 2.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider’s stock worth $218,791,000 after acquiring an additional 22,789 shares during the last quarter. MBB Public Markets I LLC bought a new position in shares of ResMed in the 1st quarter valued at about $302,000. Finally, United Services Automobile Association bought a new position in ResMed during the 1st quarter worth approximately $757,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. KeyCorp upped their target price on ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Mizuho upped their target price on ResMed from $270.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Piper Sandler raised their price objective on ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Finally, Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $278.36.

Insider Activity

In other news, Director Peter C. Farrell sold 945 shares of ResMed stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total transaction of $241,438.05. Following the completion of the sale, the director owned 68,273 shares in the company, valued at approximately $17,443,068.77. This trade represents a 1.37% decrease in their position. 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 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 completion of the sale, the chief executive officer owned 455,503 shares of the company’s stock, valued at $127,303,978.44. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,588 shares of company stock worth $5,289,241. 0.71% of the stock is currently owned by insiders.

ResMed Stock Down 1.4%

RMD stock opened at $270.67 on Friday. 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 $39.63 billion, a PE ratio of 28.46, a PEG ratio of 1.83 and a beta of 0.85. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The stock has a 50-day simple moving average of $274.35 and a two-hundred day simple moving average of $248.86.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $1.35 billion during 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 for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $2.08 EPS. On average, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.60 per share. This is a boost from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed’s dividend payout ratio is 25.24%.

ResMed Company 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.