Telos Capital Management Inc. Raises Stock Position in ResMed Inc. $RMD

Telos Capital Management Inc. boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 8.3% in the first quarter, HoldingsChannel reports. The firm owned 35,799 shares of the medical equipment provider’s stock after buying an additional 2,730 shares during the period. Telos Capital Management Inc.’s holdings in ResMed were worth $8,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in RMD. Imprint Wealth LLC acquired a new stake in ResMed during the 3rd quarter worth about $26,000. WFA of San Diego LLC acquired a new position in shares of ResMed in the 2nd quarter valued at about $26,000. International Assets Investment Management LLC purchased a new stake in shares of ResMed in the fourth quarter worth about $25,000. ORG Partners LLC boosted its stake in shares of ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 69 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in ResMed during the third quarter worth about $31,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $193.96, for a total transaction of $968,054.36. Following the transaction, the chief executive officer directly owned 466,256 shares in the company, valued at approximately $90,435,013.76. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,973 shares of company stock worth $3,580,754 in the last three months. 0.65% of the stock is owned by corporate insiders.

ResMed Stock Performance

Shares of RMD stock opened at $188.52 on Tuesday. The company has a market capitalization of $27.35 billion, a P/E ratio of 18.18, a P/E/G ratio of 1.20 and a beta of 0.80. The business’s 50 day moving average is $205.95 and its two-hundred day moving average is $232.61. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.79 by $0.07. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.ResMed’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $2.37 earnings per share. Analysts expect that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. ResMed’s dividend payout ratio (DPR) is 23.14%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Robert W. Baird set a $225.00 price target on ResMed in a research report on Friday, May 1st. JPMorgan Chase & Co. started coverage on shares of ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating on the stock. Weiss Ratings cut shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Wells Fargo & Company lowered their price target on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Finally, KeyCorp dropped their price target on shares of ResMed from $290.00 to $266.00 and set an “overweight” rating on the stock in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $270.82.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.