ResMed Inc. (NYSE:RMD) Stake Increased by Birch Capital Management LLC

Birch Capital Management LLC increased its stake in ResMed Inc. (NYSE:RMD) by 21.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,543 shares of the medical equipment provider’s stock after acquiring an additional 6,268 shares during the period. ResMed comprises approximately 4.1% of Birch Capital Management LLC’s portfolio, making the stock its 5th largest position. Birch Capital Management LLC’s holdings in ResMed were worth $8,128,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in RMD. Principal Financial Group Inc. increased its position in shares of ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after purchasing an additional 5,284 shares during the last quarter. Retireful LLC bought a new position in ResMed during the third quarter valued at approximately $742,000. Asset Management One Co. Ltd. raised its stake in shares of ResMed by 5.1% during the third quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after acquiring an additional 2,878 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of ResMed by 284.3% in the 3rd quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock worth $2,004,000 after acquiring an additional 6,072 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of ResMed by 35.7% in the 3rd quarter. Wellington Management Group LLP now owns 59,926 shares of the medical equipment provider’s stock valued at $14,629,000 after purchasing an additional 15,772 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 0.8 %

RMD stock traded up $1.99 during midday trading on Tuesday, hitting $237.08. The company’s stock had a trading volume of 233,238 shares, compared to its average volume of 551,014. The company has a market cap of $34.80 billion, a PE ratio of 31.40, a P/E/G ratio of 1.73 and a beta of 0.70. The firm’s 50-day moving average is $240.48 and its 200-day moving average is $230.23. ResMed Inc. has a 12 month low of $166.90 and a 12 month high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 EPS. On average, equities research analysts forecast that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.89%. ResMed’s dividend payout ratio (DPR) is 28.08%.

Insider Buying and Selling at ResMed

In related news, Director Witte Jan De sold 796 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kaushik Ghoshal sold 4,260 shares of ResMed stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the sale, the insider now directly owns 21,788 shares in the company, valued at $5,196,002.24. This trade represents a 16.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,359 shares of company stock valued at $3,735,309. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RMD. Bank of America lifted their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Stifel Nicolaus assumed coverage on ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 price target on the stock. Royal Bank of Canada increased their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed has an average rating of “Moderate Buy” and an average target price of $227.91.

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.