Oxbow Advisors LLC Buys Shares of 11,942 ResMed Inc. (NYSE:RMD)

Oxbow Advisors LLC purchased a new position in ResMed Inc. (NYSE:RMD) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 11,942 shares of the medical equipment provider’s stock, valued at approximately $2,286,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Chicago Capital LLC lifted its position in ResMed by 568.2% in the second quarter. Chicago Capital LLC now owns 14,700 shares of the medical equipment provider’s stock worth $2,814,000 after purchasing an additional 12,500 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after buying an additional 241,195 shares during the period. Lake Street Advisors Group LLC boosted its stake in ResMed by 420.7% during the second quarter. Lake Street Advisors Group LLC now owns 5,592 shares of the medical equipment provider’s stock valued at $1,071,000 after buying an additional 4,518 shares in the last quarter. UNIVEST FINANCIAL Corp boosted its stake in ResMed by 51.4% during the second quarter. UNIVEST FINANCIAL Corp now owns 1,853 shares of the medical equipment provider’s stock valued at $355,000 after buying an additional 629 shares in the last quarter. Finally, Candriam S.C.A. grew its holdings in ResMed by 10.8% during the second quarter. Candriam S.C.A. now owns 9,371 shares of the medical equipment provider’s stock worth $1,794,000 after acquiring an additional 912 shares during the period. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Up 0.0 %

RMD stock traded up $0.09 during trading hours on Friday, hitting $244.87. The company’s stock had a trading volume of 579,029 shares, compared to its average volume of 1,042,666. The stock has a 50 day moving average price of $215.85 and a two-hundred day moving average price of $204.44. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $247.73. The company has a market capitalization of $35.97 billion, a PE ratio of 37.61, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69. 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 (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the company posted $1.60 earnings per share. ResMed’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts expect that ResMed Inc. will post 8.91 earnings per share for the current year.

ResMed Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently weighed in on RMD. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. StockNews.com cut shares of 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 target on the stock. in a research report on Wednesday. Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada lifted their target price on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $204.70.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at $85,060,983.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $192.97, for a total value of $2,833,378.51. Following the transaction, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at approximately $85,060,983.03. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,248 shares of company stock valued at $17,698,433. Corporate insiders own 1.21% of the company’s stock.

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.