G&S Capital LLC Has $653,000 Holdings in ResMed Inc. $RMD

G&S Capital LLC lessened its stake in ResMed Inc. (NYSE:RMD) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,532 shares of the medical equipment provider’s stock after selling 45 shares during the quarter. G&S Capital LLC’s holdings in ResMed were worth $653,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. grew its position in ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. Golden State Wealth Management LLC grew its position in ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 127 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in ResMed in the first quarter valued at about $45,000. Groupe la Francaise bought a new position in ResMed in the first quarter valued at about $45,000. Finally, CVA Family Office LLC grew its position in ResMed by 29.8% in the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider’s stock valued at $47,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $279.48, for a total value of $2,238,355.32. Following the transaction, the chief executive officer directly owned 455,503 shares of the company’s stock, valued at approximately $127,303,978.44. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Hernandez sold 2,575 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the transaction, the director directly owned 4,045 shares in the company, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,588 shares of company stock valued at $5,289,241. 0.71% of the stock is currently owned by company insiders.

ResMed Price Performance

ResMed stock opened at $271.22 on Tuesday. The stock’s 50 day moving average is $277.96 and its 200 day moving average is $252.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The firm has a market cap of $39.71 billion, a P/E ratio of 28.52, a P/E/G ratio of 1.82 and a beta of 0.85. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 earnings per share. As a group, research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were paid a $0.60 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, August 14th. ResMed’s payout ratio is presently 25.24%.

Analysts Set New Price Targets

A number of research firms have issued reports on RMD. William Blair upgraded ResMed to a “strong-buy” rating in a research report on Friday, August 1st. UBS Group upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Stifel Nicolaus boosted their price target on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 1st. Finally, Piper Sandler boosted their price target on ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $294.20.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.