Integrated Wealth Concepts LLC Buys 871 Shares of ResMed Inc. $RMD

Integrated Wealth Concepts LLC raised its stake in shares of ResMed Inc. (NYSE:RMD) by 17.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,778 shares of the medical equipment provider’s stock after purchasing an additional 871 shares during the period. Integrated Wealth Concepts LLC’s holdings in ResMed were worth $1,293,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global X Japan Co. Ltd. boosted its holdings in shares of ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of ResMed by 384.8% in the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 127 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of ResMed in the 1st quarter valued at about $45,000. Groupe la Francaise bought a new position in shares of ResMed in the 1st quarter valued at about $45,000. Finally, CVA Family Office LLC lifted its holdings in shares of ResMed by 29.8% in the 1st quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider’s stock valued at $47,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RMD shares. Piper Sandler increased their price target on shares of ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. Mizuho increased their price objective on shares of ResMed from $270.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, UBS Group increased their price objective on shares of ResMed from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $278.36.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 945 shares of ResMed stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total transaction of $241,438.05. Following the transaction, the director directly owned 68,273 shares of the company’s stock, valued at $17,443,068.77. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $739,282.50. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 19,588 shares of company stock valued at $5,289,241 over the last ninety days. 0.71% of the stock is owned by company insiders.

ResMed Stock Performance

Shares of RMD stock opened at $270.16 on Thursday. The firm has a market cap of $39.55 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 1.87 and a beta of 0.85. The company’s 50 day moving average is $273.71 and its 200 day moving average is $248.21. 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 Inc. has a 52-week low of $199.92 and a 52-week high of $293.81.

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, beating the consensus estimate of $2.47 by $0.08. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. ResMed’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $2.08 earnings per share. On average, sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 14th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, August 14th. This is a positive change from ResMed’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a yield of 0.9%. ResMed’s dividend payout ratio is 25.24%.

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.