Focus Partners Advisor Solutions LLC Sells 688 Shares of ResMed Inc. $RMD

Focus Partners Advisor Solutions LLC trimmed its position in ResMed Inc. (NYSE:RMD) by 37.4% in the second quarter, HoldingsChannel reports. The firm owned 1,154 shares of the medical equipment provider’s stock after selling 688 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in ResMed were worth $297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Keeler Thomas Management LLC bought a new position in ResMed in the 2nd quarter worth approximately $1,362,000. Sumitomo Mitsui Trust Group Inc. lifted its position in ResMed by 2.1% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 372,834 shares of the medical equipment provider’s stock worth $96,191,000 after buying an additional 7,644 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in ResMed in the 2nd quarter worth $117,000. Parcion Private Wealth LLC increased its position in shares of ResMed by 0.8% in the second quarter. Parcion Private Wealth LLC now owns 33,521 shares of the medical equipment provider’s stock valued at $8,648,000 after acquiring an additional 262 shares during the period. Finally, D.A. Davidson & CO. increased its stake in shares of ResMed by 11.5% during the second quarter. D.A. Davidson & CO. now owns 3,428 shares of the medical equipment provider’s stock valued at $884,000 after buying an additional 354 shares during the period. 54.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RMD. UBS Group upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. Piper Sandler raised their price objective on shares of ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ResMed in a report on Wednesday, October 8th. KeyCorp lifted their price target on shares of ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a report on Friday. Finally, Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $297.20.

ResMed Price Performance

ResMed stock opened at $246.67 on Friday. 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 50-day moving average of $271.78 and a two-hundred day moving average of $260.75. The stock has a market cap of $36.00 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 1.75 and a beta of 0.83. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the company earned $2.20 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. On average, research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s payout ratio is 25.24%.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total value of $27,436.00. Following the completion of the transaction, the general counsel owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the completion of the transaction, the chief executive officer directly owned 467,792 shares of the company’s stock, valued at approximately $132,314,967.20. This represents a 1.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,693 shares of company stock worth $5,270,419 in the last ninety days. 0.65% of the stock is owned by insiders.

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.