Oxbow Advisors LLC Buys New Shares in ResMed Inc. (NYSE:RMD)

Oxbow Advisors LLC purchased a new position in ResMed Inc. (NYSE:RMD) during the 2nd quarter, Holdings Channel reports. The firm purchased 11,942 shares of the medical equipment provider’s stock, valued at approximately $2,286,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of RMD. International Assets Investment Management LLC grew its position in ResMed by 11,960.3% during the fourth quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock worth $3,817,000 after buying an additional 22,007 shares in the last quarter. Natixis Advisors L.P. grew its holdings in shares of ResMed by 12.4% during the 4th quarter. Natixis Advisors L.P. now owns 35,447 shares of the medical equipment provider’s stock worth $6,097,000 after purchasing an additional 3,923 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of ResMed by 7.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock valued at $155,000 after purchasing an additional 64 shares in the last quarter. National Bank of Canada FI lifted its position in ResMed by 11.1% in the fourth quarter. National Bank of Canada FI now owns 38,194 shares of the medical equipment provider’s stock worth $6,561,000 after purchasing an additional 3,802 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in ResMed during the fourth quarter worth $451,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Up 0.0 %

Shares of RMD stock traded up $0.09 during trading hours on Friday, reaching $244.87. The company had a trading volume of 579,029 shares, compared to its average volume of 1,042,666. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $247.73. The company has a 50 day moving average of $215.85 and a 200 day moving average of $204.44. The firm has a market cap of $35.97 billion, a price-to-earnings ratio of 37.61, a P/E/G ratio of 2.44 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.60 earnings per share. On average, equities research analysts anticipate that ResMed Inc. will post 8.91 EPS for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s payout ratio is currently 32.57%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RMD. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Royal Bank of Canada increased their target price on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC lowered ResMed from a “buy” rating to a “hold” rating and set a $236.00 price target on the stock. in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $204.70.

Insider Buying and Selling at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $209.81, for a total value of $209,810.00. Following the completion of the transaction, the chief financial officer now owns 91,056 shares of the company’s stock, valued at approximately $19,104,459.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at $85,060,983.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $209.81, for a total transaction of $209,810.00. Following the completion of the transaction, the chief financial officer now directly owns 91,056 shares of the company’s stock, valued at $19,104,459.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,248 shares of company stock valued at $17,698,433. Corporate insiders own 1.21% of the company’s stock.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.