ResMed Inc. (NYSE:RMD) Stake Raised by Birch Capital Management LLC

by · The Cerbat Gem

Birch Capital Management LLC grew its stake in shares of ResMed Inc. (NYSE:RMD – Free Report) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,275 shares of the medical equipment provider’s stock after buying an additional 2,080 shares during the period. ResMed accounts for 3.5% of Birch Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. Birch Capital Management LLC’s holdings in ResMed were worth $7,147,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of ResMed by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock valued at $3,052,229,000 after buying an additional 173,635 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after acquiring an additional 1,959,642 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of ResMed by 48.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after purchasing an additional 241,195 shares during the period. Greenvale Capital LLP boosted its holdings in shares of ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after purchasing an additional 275,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of ResMed by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock valued at $126,670,000 after purchasing an additional 107,279 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Bank of America raised their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Tuesday, October 1st. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Finally, Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $218.18.

Check Out Our Latest Stock Report on RMD

ResMed Stock Up 0.5 %

Shares of RMD traded up $1.13 during trading on Tuesday, reaching $241.84. The company’s stock had a trading volume of 182,032 shares, compared to its average volume of 1,031,622. The company has a market cap of $35.53 billion, a price-to-earnings ratio of 36.98, a P/E/G ratio of 2.14 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. The company has a fifty day moving average of $236.85 and a two-hundred day moving average of $214.91. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $255.18.

ResMed (NYSE:RMD – Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts predict that ResMed Inc. will post 9.02 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were given a dividend of $0.53 per share. This is a boost from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. ResMed’s dividend payout ratio (DPR) is presently 32.57%.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the sale, the insider now owns 21,788 shares in the company, valued at $5,196,002.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the sale, the insider now directly owns 21,788 shares in the company, valued at approximately $5,196,002.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the transaction, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at approximately $115,290,296.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 123,874 shares of company stock worth $28,151,142. Corporate insiders own 1.21% of the company’s stock.

About ResMed

(Free Report)

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.

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