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

Yousif Capital Management LLC reduced its position in shares of ResMed Inc. (NYSE:RMD) by 2.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 21,997 shares of the medical equipment provider’s stock after selling 485 shares during the period. Yousif Capital Management LLC’s holdings in ResMed were worth $5,675,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. lifted its holdings in ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in ResMed during the 1st quarter valued at about $45,000. Groupe la Francaise bought a new position in ResMed during the 1st quarter valued at about $45,000. Finally, Larson Financial Group LLC raised its stake in shares of ResMed by 926.7% in the first quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock worth $69,000 after acquiring an additional 278 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on shares of ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. KeyCorp boosted their target price on shares of ResMed from $274.00 to $298.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Mizuho boosted their target price on shares of ResMed from $270.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Wells Fargo & Company initiated coverage on shares of ResMed in a research note on Monday. They issued an “equal weight” rating and a $280.00 target price for the company. Finally, CLSA raised shares of 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 assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $292.91.

ResMed Stock Down 0.9%

Shares of NYSE:RMD opened at $270.43 on Wednesday. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The company has a 50 day moving average of $277.86 and a 200-day moving average of $256.39. 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 stock has a market cap 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.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 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 during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the company earned $2.08 EPS. ResMed’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were issued a dividend of $0.60 per share. This is an increase from ResMed’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, August 14th. ResMed’s dividend payout ratio is presently 25.24%.

Insider Activity at ResMed

In related news, General Counsel Michael J. Rider sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the transaction, the general counsel owned 11,327 shares in the company, valued at approximately $3,107,675.72. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Hernandez sold 2,575 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the transaction, the director owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. This represents a 38.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,743 shares of company stock worth $5,284,514. 0.65% of the stock is currently owned by company insiders.

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.