Wealth Enhancement Advisory Services LLC Has $1.65 Million Holdings in ResMed Inc. $RMD

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 30.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,418 shares of the medical equipment provider’s stock after selling 2,831 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in ResMed were worth $1,649,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 purchasing an additional 320,240 shares during the period. Northern Trust Corp raised its stake in shares of ResMed by 2.5% in the 1st quarter. Northern Trust Corp now owns 1,744,541 shares of the medical equipment provider’s stock valued at $390,516,000 after purchasing an additional 41,951 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of ResMed by 4.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 998,128 shares of the medical equipment provider’s stock valued at $223,431,000 after purchasing an additional 41,108 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of ResMed by 2.4% in 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 valued at $218,791,000 after acquiring an additional 22,789 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of ResMed by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 793,760 shares of the medical equipment provider’s stock valued at $177,652,000 after acquiring an additional 51,348 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity

In other news, Director John Hernandez sold 2,575 shares of ResMed stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the sale, the director directly owned 4,045 shares in the company, valued at approximately $1,161,319.50. The trade was a 38.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $279.48, for a total transaction 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 approximately $127,303,978.44. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,588 shares of company stock worth $5,289,241. Corporate insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. KeyCorp raised their price objective on ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a 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 report on Friday, August 1st. Stifel Nicolaus lifted their price target on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 1st. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Finally, CLSA upgraded ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $294.20.

ResMed Trading Up 0.4%

Shares of NYSE:RMD opened at $271.22 on Tuesday. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The stock has a market cap of $39.71 billion, a PE ratio of 28.52, a P/E/G ratio of 1.82 and a beta of 0.85. The business has a 50 day moving average of $277.96 and a 200-day moving average of $252.42. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were given a $0.60 dividend. The ex-dividend date was Thursday, August 14th. This is a positive change 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%. ResMed’s dividend payout ratio (DPR) is presently 25.24%.

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.