Cwm LLC Has $1.61 Million Stock Holdings in ResMed Inc. $RMD

Key Points

• Cwm LLC reduced its stake in ResMed Inc. by 25.5%, holding 6,236 shares worth approximately $1.61 million after selling 2,129 shares in the second quarter.
• The company has announced an increase in its quarterly dividend to $0.60 per share, reflecting a positive change from the previous $0.53 dividend.
• ResMed reported a 10.2% year-over-year revenue growth, with earnings per share at $2.55, surpassing analysts' expectations of $2.47.

Cwm LLC lessened its position in ResMed Inc. (NYSE:RMD - Free Report) by 25.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,236 shares of the medical equipment provider's stock after selling 2,129 shares during the period. Cwm LLC's holdings in ResMed were worth $1,609,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its position 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 worth $36,000 after buying an additional 127 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in ResMed during the 1st quarter worth about $45,000. Groupe la Francaise acquired a new position in ResMed during the 1st quarter worth about $45,000. Larson Financial Group LLC lifted its position in ResMed by 926.7% during the 1st quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider's stock worth $69,000 after buying an additional 278 shares in the last quarter. Finally, Quarry LP lifted its position in ResMed by 141.1% during the 1st quarter. Quarry LP now owns 311 shares of the medical equipment provider's stock worth $70,000 after buying an additional 182 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Buying and Selling

In related news, Director John Hernandez sold 2,575 shares of the stock in a transaction that occurred 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 sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $282.85, for a total value of $2,265,345.65. Following the sale, the chief executive officer directly owned 467,792 shares of the company's stock, valued at approximately $132,314,967.20. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,743 shares of company stock valued at $5,284,514. 0.65% of the stock is owned by corporate insiders.

ResMed Stock Performance

Shares of RMD stock opened at $267.96 on Monday. 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 $39.11 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83. The stock has a 50-day moving average of $277.13 and a 200-day moving average of $257.67. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.08. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.ResMed's revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 EPS. As a group, sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, August 14th. This is a positive change from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio (DPR) is currently 25.24%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RMD. Piper Sandler upped their price target on shares of ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. CLSA raised ResMed from a "hold" rating to an "outperform" rating in a report on Tuesday, September 2nd. Royal Bank Of Canada boosted their price objective on ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Wells Fargo & Company started coverage on ResMed in a report on Monday, October 13th. They set an "equal weight" rating and a $280.00 price objective for the company. Finally, UBS Group raised ResMed to a "strong-buy" rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $292.91.

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.

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