United Asset Strategies Inc. Has $3.59 Million Stock Position in ResMed Inc. $RMD

United Asset Strategies Inc. grew its position in ResMed Inc. (NYSE:RMD) by 66.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,009 shares of the medical equipment provider’s stock after acquiring an additional 6,367 shares during the quarter. United Asset Strategies Inc.’s holdings in ResMed were worth $3,594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Imprint Wealth LLC bought a new stake in ResMed in the 3rd quarter valued at $26,000. WFA of San Diego LLC acquired a new stake in shares of ResMed during the 2nd quarter valued at about $26,000. International Assets Investment Management LLC bought a new stake in ResMed in the fourth quarter valued at about $25,000. ORG Partners LLC increased its stake in ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 69 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in ResMed in the third quarter worth about $31,000. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RMD. Robert W. Baird set a $225.00 price objective on ResMed in a report on Friday, May 1st. The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Evercore set a $255.00 price target on ResMed and gave the company an “outperform” rating in a research note on Monday, April 13th. KeyCorp dropped their price objective on ResMed from $290.00 to $266.00 and set an “overweight” rating for the company in a research note on Monday, June 22nd. Finally, Wells Fargo & Company dropped their price objective on ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $270.82.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $193.96, for a total transaction of $968,054.36. Following the transaction, the chief executive officer owned 466,256 shares of the company’s stock, valued at $90,435,013.76. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.65% of the stock is currently owned by insiders.

ResMed Price Performance

Shares of RMD stock traded down $0.40 during trading hours on Tuesday, hitting $218.00. 286,544 shares of the company’s stock were exchanged, compared to its average volume of 1,270,458. The stock’s 50-day moving average is $201.13 and its 200-day moving average is $229.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The stock has a market cap of $31.62 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the business posted $2.37 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, research analysts forecast that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is 23.14%.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.