Birch Capital Management LLC Purchases 72 Shares of ResMed Inc. $RMD

Birch Capital Management LLC grew its position in ResMed Inc. (NYSE:RMD) by 0.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 36,855 shares of the medical equipment provider’s stock after purchasing an additional 72 shares during the period. ResMed accounts for about 4.9% of Birch Capital Management LLC’s portfolio, making the stock its 5th largest holding. Birch Capital Management LLC’s holdings in ResMed were worth $9,509,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in RMD. Pallas Capital Advisors LLC boosted its stake in shares of ResMed by 11.9% in the first quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the medical equipment provider’s stock valued at $693,000 after buying an additional 330 shares during the period. Yousif Capital Management LLC boosted its stake in shares of ResMed by 0.5% in the first quarter. Yousif Capital Management LLC now owns 22,482 shares of the medical equipment provider’s stock valued at $5,033,000 after buying an additional 101 shares during the period. GAMMA Investing LLC boosted its stake in shares of ResMed by 7.6% in the first quarter. GAMMA Investing LLC now owns 3,277 shares of the medical equipment provider’s stock valued at $734,000 after buying an additional 231 shares during the period. CX Institutional boosted its stake in shares of ResMed by 6.8% in the first quarter. CX Institutional now owns 1,530 shares of the medical equipment provider’s stock valued at $342,000 after buying an additional 97 shares during the period. Finally, Simon Quick Advisors LLC boosted its stake in shares of ResMed by 18.3% in the first quarter. Simon Quick Advisors LLC now owns 1,951 shares of the medical equipment provider’s stock valued at $437,000 after buying an additional 302 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RMD shares. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Piper Sandler upped their target price on ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Stifel Nicolaus upped their target price on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 1st. William Blair upgraded ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Finally, CLSA upgraded ResMed from a “hold” rating to an “outperform” rating in a research note on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $294.20.

ResMed Stock Down 1.6%

Shares of NYSE:RMD opened at $277.87 on Friday. The company has a fifty day moving average of $278.65 and a 200-day moving average of $255.11. The company has a market capitalization of $40.55 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 1.90 and a beta of 0.83. 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 Inc. has a 52-week low of $199.92 and a 52-week high of $293.81.

ResMed (NYSE:RMD) last announced 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. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 earnings per share. On average, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

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

Insider Transactions at ResMed

In related news, Director John Hernandez sold 2,575 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the transaction, the director directly owned 4,045 shares of the company’s stock, valued at $1,161,319.50. This trade represents a 38.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. Rider sold 100 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,743 shares of company stock worth $5,284,514. Corporate insiders own 0.71% of the company’s stock.

About ResMed

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.