Marshall Financial Group LLC Trims Stock Position in ResMed Inc. $RMD

Key Points

• Marshall Financial Group LLC has reduced its holdings in ResMed Inc. by 9.1% during the second quarter, now owning 9,524 shares valued at $2,442,000.
• ResMed recently increased its quarterly dividend to $0.60, representing a 0.9% annual yield, up from its previous rate of $0.53.
• Analyst reports show confidence in ResMed, with upgrades to "outperform" and "strong-buy" ratings, resulting in an average price target of $288.20 for the stock.

Marshall Financial Group LLC trimmed its position in ResMed Inc. (NYSE:RMD - Free Report) by 9.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,524 shares of the medical equipment provider's stock after selling 952 shares during the quarter. Marshall Financial Group LLC's holdings in ResMed were worth $2,442,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. ICW Investment Advisors LLC increased its stake in ResMed by 0.4% during the 1st quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider's stock worth $2,551,000 after buying an additional 41 shares during the period. Smartleaf Asset Management LLC lifted its position in ResMed by 3.9% during the first quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider's stock valued at $269,000 after buying an additional 46 shares in the last quarter. E Fund Management Co. Ltd. increased its stake in ResMed by 2.8% during the first quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider's stock valued at $385,000 after purchasing an additional 47 shares during the last quarter. CVA Family Office LLC boosted its holdings in shares of ResMed by 29.8% during the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock valued at $47,000 after acquiring an additional 48 shares during the period. Finally, Central Pacific Bank Trust Division lifted its holdings in ResMed by 9.7% in the 1st quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock valued at $126,000 after acquiring an additional 50 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the topic of several analyst reports. Mizuho increased their price target on ResMed from $270.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. William Blair raised ResMed to a "strong-buy" rating in a research note on Friday, August 1st. CLSA raised ResMed from a "hold" rating to an "outperform" rating in a research report on Tuesday, September 2nd. Finally, Stifel Nicolaus raised their price target on ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $292.00.

Insider Activity

In other news, Director John Hernandez sold 2,575 shares of the firm's stock in a transaction that occurred on 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 approximately $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 945 shares of ResMed 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,588 shares of company stock worth $5,289,241 in the last ninety days. Corporate insiders own 0.71% of the company's stock.

ResMed Trading Up 0.1%

Shares of ResMed stock traded up $0.16 during midday trading on Friday, reaching $273.45. 1,536,202 shares of the company's stock traded hands, compared to its average volume of 926,033. The stock has a 50 day moving average of $275.98 and a 200-day moving average of $250.32. 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 company has a market cap of $40.04 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.08. The firm had revenue of $1.35 billion for 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%.The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 EPS. As a group, equities analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were issued a $0.60 dividend. This is an increase from ResMed's previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, August 14th. ResMed's dividend payout ratio is currently 25.24%.

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.