JT Stratford LLC Sells 1,297 Shares of ResMed Inc. $RMD

Key Points

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JT Stratford LLC lowered its position in ResMed Inc. (NYSE:RMD - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,150 shares of the medical equipment provider's stock after selling 1,297 shares during the quarter. JT Stratford LLC's holdings in ResMed were worth $2,048,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RMD. Global X Japan Co. Ltd. raised its stake in shares of 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 acquiring an additional 68 shares during the period. Colonial Trust Co SC raised its stake in shares of 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 acquiring an additional 125 shares during the period. Optiver Holding B.V. purchased a new stake in shares of ResMed in the fourth quarter valued at $33,000. Golden State Wealth Management LLC raised its stake in shares of 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 acquiring an additional 127 shares during the period. Finally, Itau Unibanco Holding S.A. raised its stake in shares of 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 acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Trading Up 0.4%

NYSE:RMD opened at $286.17 on Tuesday. ResMed Inc. has a one year low of $199.92 and a one year high of $293.08. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The firm has a market cap of $41.90 billion, a P/E ratio of 30.09, a P/E/G ratio of 1.91 and a beta of 0.77. The firm has a 50-day simple moving average of $264.88 and a 200-day simple moving average of $243.23.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating 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 business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business posted $2.08 EPS. The company's quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. This is an increase from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio (DPR) is presently 25.24%.

Insider Activity

In other news, Director Peter C. Farrell sold 945 shares of ResMed stock in a transaction that occurred 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 transaction, the director owned 68,273 shares of the company's stock, valued at $17,443,068.77. The trade was a 1.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Thursday, August 7th. The stock was 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 in the company, valued at approximately $127,303,978.44. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,063 shares of company stock valued at $6,571,895. Company insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Mizuho increased their target price on shares of ResMed from $270.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Wall Street Zen downgraded shares of ResMed from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Piper Sandler raised their price target 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. Stifel Nicolaus raised their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a research note on Friday, August 1st. Finally, KeyCorp raised their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $274.83.

ResMed Company 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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