UNIVEST FINANCIAL Corp Raises Holdings in ResMed Inc. (NYSE:RMD)

UNIVEST FINANCIAL Corp lifted its stake in ResMed Inc. (NYSE:RMD) by 51.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,853 shares of the medical equipment provider’s stock after acquiring an additional 629 shares during the period. UNIVEST FINANCIAL Corp’s holdings in ResMed were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC lifted its stake in shares of ResMed by 3.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock worth $292,000 after buying an additional 52 shares during the period. QRG Capital Management Inc. raised its stake in ResMed by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after acquiring an additional 56 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in ResMed by 1.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after acquiring an additional 60 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in ResMed by 7.6% during the 4th 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 during the last quarter. Finally, Gulf International Bank UK Ltd increased its holdings in shares of ResMed by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock valued at $2,497,000 after purchasing an additional 66 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Up 0.0 %

RMD stock opened at $244.87 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $247.73. The company’s 50-day simple moving average is $215.85 and its 200-day simple moving average is $204.44. The firm has a market cap of $35.98 billion, a P/E ratio of 37.61, a PEG ratio of 2.44 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company earned $1.60 earnings per share. ResMed’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts forecast that ResMed Inc. will post 8.91 EPS for the current fiscal year.

ResMed Increases Dividend

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

Insider Activity

In related news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $209.81, for a total value of $209,810.00. Following the transaction, the chief financial officer now directly owns 91,056 shares of the company’s stock, valued at approximately $19,104,459.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Justin Leong sold 48,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $209.81, for a total transaction of $209,810.00. Following the transaction, the chief financial officer now owns 91,056 shares in the company, valued at $19,104,459.36. The disclosure for this sale can be found here. Insiders have sold a total of 83,248 shares of company stock worth $17,698,433 over the last 90 days. 1.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on RMD. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Needham & Company LLC lowered shares of ResMed from a “buy” rating to a “hold” rating and set a $236.00 price objective on the stock. in a research note on Wednesday. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. KeyCorp upped their price target on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $204.70.

About ResMed

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.