Yousif Capital Management LLC Sells 485 Shares of ResMed Inc. $RMD

Yousif Capital Management LLC lowered its holdings in shares of ResMed Inc. (NYSE:RMD) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,997 shares of the medical equipment provider’s stock after selling 485 shares during the quarter. Yousif Capital Management LLC’s holdings in ResMed were worth $5,675,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. ICW Investment Advisors LLC raised its holdings in shares of ResMed by 0.4% during the 1st quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock valued at $2,551,000 after purchasing an additional 41 shares in the last quarter. Johnson Investment Counsel Inc. grew its stake in ResMed by 2.8% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock valued at $430,000 after buying an additional 45 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in ResMed by 3.9% in the 1st 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. grew its stake in ResMed by 2.8% in the 1st 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. Finally, V Square Quantitative Management LLC grew its stake in ResMed by 3.0% in the 2nd 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. Institutional investors own 54.98% of the company’s stock.

Insider Activity

In other news, Director John Hernandez sold 2,575 shares of ResMed stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the sale, the director directly owned 4,045 shares in the company, valued at approximately $1,161,319.50. The trade was a 38.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael J. Rider sold 100 shares of ResMed stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the sale, the general counsel owned 11,327 shares in the company, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,743 shares of company stock worth $5,284,514. Corporate insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Stifel Nicolaus raised their target price on shares of ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 1st. Mizuho raised their target price 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. UBS Group upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, William Blair upgraded shares of ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus price target of $292.91.

ResMed Stock Performance

NYSE RMD opened at $270.43 on Wednesday. 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 capitalization of $39.47 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 1.83 and a beta of 0.83. The company’s fifty day moving average is $277.86 and its two-hundred day moving average is $256.39. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) 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 company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the business posted $2.08 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts forecast that ResMed Inc. will post 9.47 EPS 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 given a dividend of $0.60 per share. This is an increase from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s dividend payout ratio (DPR) is presently 25.24%.

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.