Perigon Wealth Management LLC grew its position in ResMed Inc. (NYSE:RMD) by 1,230.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,439 shares of the medical equipment provider’s stock after buying an additional 11,504 shares during the period. Perigon Wealth Management LLC’s holdings in ResMed were worth $1,288,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Dupont Capital Management Corp bought a new stake in shares of ResMed in the 1st quarter valued at about $121,000. Meeder Asset Management Inc. acquired a new position in shares of ResMed during the 2nd quarter worth approximately $131,000. Cornerstone Wealth Management LLC acquired a new position in shares of ResMed during the 2nd quarter worth approximately $167,000. Piedmont Investment Advisors LLC acquired a new stake in shares of ResMed during the 2nd quarter worth approximately $167,000. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of ResMed during the 2nd quarter worth approximately $207,000. 63.79% of the stock is owned by institutional investors.

Several analysts recently issued reports on RMD shares. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a research report on Friday, May 25th. Goldman Sachs Group started coverage on shares of ResMed in a research report on Sunday, July 1st. They issued a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. ResMed presently has a consensus rating of “Hold” and a consensus price target of $77.33.

RMD traded up $0.15 during midday trading on Friday, hitting $114.23. The company had a trading volume of 591,016 shares, compared to its average volume of 623,809. ResMed Inc. has a 52 week low of $75.28 and a 52 week high of $114.48. The company has a current ratio of 2.08, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. The company has a market cap of $15.93 billion, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 2.88 and a beta of 0.91.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 2nd. The medical equipment provider reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. The firm had revenue of $623.63 million during the quarter, compared to analysts’ expectations of $622.78 million. ResMed had a net margin of 13.49% and a return on equity of 24.74%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. research analysts forecast that ResMed Inc. will post 3.66 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Stockholders of record on Thursday, August 16th will be issued a dividend of $0.37 per share. This is a boost from ResMed’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Wednesday, August 15th. ResMed’s dividend payout ratio (DPR) is currently 41.93%.

In related news, insider James Hollingshead sold 600 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $105.93, for a total transaction of $63,558.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 2,000 shares of ResMed stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $109.01, for a total transaction of $218,020.00. Following the completion of the sale, the chief financial officer now directly owns 65,072 shares in the company, valued at approximately $7,093,498.72. The disclosure for this sale can be found here. Insiders have sold 8,610 shares of company stock valued at $923,534 over the last quarter. Corporate insiders own 1.77% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

See Also: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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