Advyzon Investment Management LLC Takes Position in ResMed Inc. $RMD

Advyzon Investment Management LLC bought a new position in ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 786 shares of the medical equipment provider’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vise Technologies Inc. acquired a new stake in shares of ResMed during the second quarter worth about $553,000. Allworth Financial LP raised its position in ResMed by 53.0% in the 2nd quarter. Allworth Financial LP now owns 1,082 shares of the medical equipment provider’s stock valued at $279,000 after buying an additional 375 shares during the last quarter. Fidelis Capital Partners LLC increased its stake in ResMed by 10.8% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,178 shares of the medical equipment provider’s stock valued at $330,000 after buying an additional 115 shares during the last quarter. ProShare Advisors LLC boosted its position in ResMed by 7.1% during the second quarter. ProShare Advisors LLC now owns 32,220 shares of the medical equipment provider’s stock valued at $8,313,000 after purchasing an additional 2,147 shares during the last quarter. Finally, Profund Advisors LLC lifted its stake in ResMed by 9.3% in the second quarter. Profund Advisors LLC now owns 2,296 shares of the medical equipment provider’s stock valued at $592,000 after acquiring an additional 195 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $252.58 on Thursday. The stock has a 50-day moving average price of $267.36 and a two-hundred day moving average price of $262.80. The company has a market capitalization of $36.86 billion, a PE ratio of 26.56, a P/E/G ratio of 1.75 and a beta of 0.87. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm posted $2.20 earnings per share. ResMed’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s dividend payout ratio is presently 24.56%.

Insiders Place Their Bets

In other ResMed news, Director John Hernandez sold 2,575 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the sale, the director owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. Rider sold 100 shares of ResMed stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 18,695 shares of company stock worth $5,032,811. 0.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of recent analyst reports. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ResMed in a research report on Wednesday, October 8th. Mizuho dropped their price objective on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. KeyCorp lifted their target price on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Finally, William Blair raised ResMed to a “strong-buy” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average target price of $297.45.

About ResMed

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.