ResMed Inc. $RMD Shares Sold by US Bancorp DE

US Bancorp DE trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 20.4% during the second quarter, Holdings Channel reports. The firm owned 23,584 shares of the medical equipment provider’s stock after selling 6,060 shares during the quarter. US Bancorp DE’s holdings in ResMed were worth $6,085,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in RMD. ICW Investment Advisors LLC increased its holdings in ResMed by 0.4% in the first quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock valued at $2,551,000 after buying an additional 41 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in ResMed by 3.9% in the first quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock valued at $269,000 after buying an additional 46 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in ResMed by 2.8% in the first quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock valued at $385,000 after buying an additional 47 shares during the last quarter. CVA Family Office LLC increased its holdings 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 buying an additional 48 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in ResMed by 3.0% in the second quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider’s stock valued at $451,000 after buying an additional 51 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of RMD opened at $271.96 on Monday. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The company has a market capitalization of $39.69 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 1.83 and a beta of 0.83. The firm has a 50-day simple moving average of $278.51 and a 200-day simple moving average of $255.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. This is a positive change from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, August 14th. ResMed’s payout ratio is currently 25.24%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RMD shares. Royal Bank Of Canada increased their target price on ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Piper Sandler upped their price objective on shares of ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Mizuho upped their price objective on shares of ResMed from $270.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Citigroup began coverage on shares of ResMed in a research note on Thursday, September 18th. They issued a “buy” rating and a $330.00 price objective for the company. Finally, CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a research note on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus target price of $294.20.

Insider Transactions at ResMed

In related news, Director John Hernandez sold 2,575 shares of the firm’s stock in a transaction dated 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 sale, the director owned 4,045 shares in the company, valued at $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the completion of the sale, the chief executive officer owned 467,792 shares of the company’s stock, valued at approximately $132,314,967.20. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,743 shares of company stock worth $5,284,514. Company insiders own 0.65% of the company’s stock.

ResMed Company 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.