Landscape Capital Management L.L.C. Sells 4,252 Shares of ResMed Inc. $RMD

Key Points

• Landscape Capital Management L.L.C. reduced its stake in ResMed Inc. by 20.6%, now holding 16,357 shares worth approximately $3.66 million.
• ResMed declared a quarterly dividend of $0.60 per share, increasing from the previous $0.53, with a yield of 0.9%.
• Research firms have raised their price targets for ResMed, with UBS Group increasing it from $285 to $325, indicating strong investor interest and growth potential.

Landscape Capital Management L.L.C. reduced its position in ResMed Inc. (NYSE:RMD - Free Report) by 20.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,357 shares of the medical equipment provider's stock after selling 4,252 shares during the period. Landscape Capital Management L.L.C.'s holdings in ResMed were worth $3,662,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in RMD. Global X Japan Co. Ltd. raised its holdings in ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 68 shares during the last quarter. Colonial Trust Co SC raised its holdings in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 125 shares during the last quarter. Optiver Holding B.V. purchased a new position in ResMed in the 4th quarter worth approximately $33,000. Golden State Wealth Management LLC raised its holdings in ResMed by 384.8% in the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after acquiring an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its holdings in ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after acquiring an additional 150 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 945 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total transaction of $241,438.05. Following the completion of the transaction, the director owned 68,273 shares of the company's stock, valued at $17,443,068.77. This represents a 1.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Hernandez sold 2,575 shares of the stock in a transaction dated 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 directly owned 4,045 shares of the company's stock, valued at $1,161,319.50. This trade represents a 38.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,597 shares of company stock valued at $7,301,182. Company insiders own 0.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RMD shares. Mizuho boosted 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. Stifel Nicolaus upped their price objective on ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a research note on Friday, August 1st. UBS Group upped their price objective on ResMed from $285.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Morgan Stanley set a $286.00 price objective on ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, ResMed has a consensus rating of "Moderate Buy" and a consensus target price of $274.83.

ResMed Price Performance

ResMed stock traded down $3.86 during mid-day trading on Tuesday, hitting $270.66. The stock had a trading volume of 350,996 shares, compared to its average volume of 995,395. The firm has a market capitalization of $39.63 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.83 and a beta of 0.85. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. The firm's 50 day moving average is $271.24 and its 200 day moving average is $246.38. 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 issued its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.08. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. ResMed's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.08 EPS. On average, sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.9%. This is an increase from ResMed's previous quarterly dividend of $0.53. 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.