Quent Capital LLC Increases Stock Position in ResMed Inc. (NYSE:RMD)

Quent Capital LLC grew its stake in shares of ResMed Inc. (NYSE:RMD) by 8.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 823 shares of the medical equipment provider’s stock after buying an additional 66 shares during the period. Quent Capital LLC’s holdings in ResMed were worth $157,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of ResMed during the 4th quarter valued at $27,000. Hall Laurie J Trustee purchased a new stake in shares of ResMed during the 1st quarter valued at $32,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of ResMed during the 1st quarter valued at $35,000. Versant Capital Management Inc grew its stake in shares of ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 120 shares during the period. Finally, MV Capital Management Inc. grew its stake in shares of ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 60 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In related news, Director Witte Jan De sold 360 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the sale, the director now owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other ResMed news, Director Witte Jan De sold 360 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the sale, the director now owns 7,519 shares in the company, valued at $1,641,322.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justin Leong sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares in the company, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. Insiders sold a total of 79,726 shares of company stock valued at $16,843,287 in the last quarter. Insiders own 1.21% of the company’s stock.

ResMed Stock Up 1.5 %

Shares of ResMed stock traded up $3.27 during trading on Tuesday, reaching $218.95. The company had a trading volume of 1,079,747 shares, compared to its average volume of 1,067,513. The company has a market cap of $32.17 billion, a price-to-earnings ratio of 33.63, a price-to-earnings-growth ratio of 1.93 and a beta of 0.66. The firm’s fifty day moving average is $203.94 and its 200-day moving average is $196.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $225.68.

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, beating analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.58%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.60 EPS. On average, analysts anticipate that ResMed Inc. will post 8.79 EPS for the current year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is 29.49%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. KeyCorp lifted their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Royal Bank of Canada lifted their target price on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday. Needham & Company LLC restated a “buy” rating and set a $236.00 target price on shares of ResMed in a report on Friday. Finally, Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.70.

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.