ResMed Inc. (NYSE:RMD) Shares Acquired by Telos Capital Management Inc.

Telos Capital Management Inc. increased its position in ResMed Inc. (NYSE:RMD) by 3.5% during the second quarter, Holdings Channel reports. The fund owned 29,898 shares of the medical equipment provider’s stock after purchasing an additional 1,016 shares during the quarter. Telos Capital Management Inc.’s holdings in ResMed were worth $5,723,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Atlantic Edge Private Wealth Management LLC bought a new position in ResMed in the 4th quarter valued at about $27,000. Hall Laurie J Trustee bought a new position in ResMed in the 1st quarter valued at about $32,000. OFI Invest Asset Management bought a new position in ResMed in the 2nd quarter valued at about $32,000. BOK Financial Private Wealth Inc. bought a new position in ResMed in the 1st quarter valued at about $35,000. Finally, Versant Capital Management Inc grew its position in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, General Counsel Michael J. Rider sold 882 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the sale, the general counsel now directly owns 10,512 shares of the company’s stock, valued at $2,428,272. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $211.66, for a total transaction of $3,107,803.78. Following the transaction, the chief executive officer now owns 440,799 shares of the company’s stock, valued at $93,299,516.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. Rider sold 882 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares in the company, valued at approximately $2,428,272. The disclosure for this sale can be found here. Insiders sold 95,931 shares of company stock valued at $20,326,437 over the last three months. 1.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RMD has been the subject of a number of recent analyst reports. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. KeyCorp increased their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $236.00 price objective on shares of ResMed in a research report on Friday, August 2nd. Royal Bank of Canada raised their price objective on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Finally, Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.70.

ResMed Trading Up 0.8 %

Shares of RMD traded up $1.86 during midday trading on Friday, hitting $245.02. The stock had a trading volume of 1,084,175 shares, compared to its average volume of 1,004,433. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $246.80. The business has a 50-day simple moving average of $210.08 and a two-hundred day simple moving average of $202.37. The firm has a market cap of $36.00 billion, a P/E ratio of 37.64, a price-to-earnings-growth ratio of 2.44 and a beta of 0.66. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the company posted $1.60 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that ResMed Inc. will post 8.91 EPS for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, August 15th. ResMed’s dividend payout ratio is 32.57%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.