Capital Fund Management S.A. Has $7.81 Million Position in ResMed Inc. $RMD

Key Points

• Capital Fund Management S.A. reduced its holdings in ResMed Inc. by 19.4% in the first quarter, now owning 34,869 shares worth approximately $7.81 million.
• Several analysts have raised their target prices for ResMed, with KeyCorp increasing it to $298.00 and William Blair assigning a "strong-buy" rating.
• ResMed recently declared a quarterly dividend of $0.60 per share, up from the previous $0.53, representing an annualized yield of 0.8%.

Capital Fund Management S.A. reduced its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 19.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,869 shares of the medical equipment provider's stock after selling 8,408 shares during the period. Capital Fund Management S.A.'s holdings in ResMed were worth $7,805,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Global X Japan Co. Ltd. lifted its holdings in ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 68 shares during the period. Colonial Trust Co SC increased its stake in ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. Optiver Holding B.V. bought a new stake in ResMed in the fourth quarter valued at approximately $33,000. Golden State Wealth Management LLC increased its stake in ResMed by 384.8% in the first 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 in the last quarter. Finally, Itau Unibanco Holding S.A. increased its stake in ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RMD shares. KeyCorp upped their target price on shares of ResMed from $274.00 to $298.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley set a $286.00 target price on shares of ResMed and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Stifel Nicolaus upped 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. William Blair raised shares of ResMed to a "strong-buy" rating in a research note on Friday, August 1st. Finally, Piper Sandler upped their target price on shares of ResMed from $248.00 to $270.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and a consensus price target of $274.83.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 945 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total value of $241,438.05. Following the completion of the transaction, the director owned 68,273 shares of the company's stock, valued at approximately $17,443,068.77. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $279.48, for a total transaction of $2,238,355.32. Following the completion of the transaction, the chief executive officer directly owned 455,503 shares of the company's stock, valued at approximately $127,303,978.44. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,638 shares of company stock valued at $7,311,177 over the last quarter. Corporate insiders own 0.71% of the company's stock.

ResMed Stock Down 0.3%

Shares of RMD stock opened at $288.13 on Friday. The firm has a fifty day moving average of $267.02 and a 200-day moving average of $244.16. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.08. The company has a market capitalization of $42.19 billion, a price-to-earnings ratio of 30.30, a P/E/G ratio of 1.94 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. The firm's revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.60 per share. This is a positive change from ResMed's previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 13th. ResMed's payout ratio is currently 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.

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