Triodos Investment Management BV Lowers Holdings in ResMed Inc. $RMD

Key Points

• Triodos Investment Management BV decreased its holdings in ResMed Inc. by 9.4% in the second quarter, now owning approximately 121,700 shares valued at $31.4 million.
• ResMed reported strong quarterly earnings, with an EPS of $2.55, exceeding analysts' expectations of $2.47, alongside a revenue increase of 10.2% year-over-year.
• The company recently increased its quarterly dividend from $0.53 to $0.60, representing an annual yield of 0.9% and a payout ratio of 25.24%.

Triodos Investment Management BV decreased its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 9.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 121,700 shares of the medical equipment provider's stock after selling 12,700 shares during the quarter. ResMed accounts for about 2.4% of Triodos Investment Management BV's holdings, making the stock its 18th biggest holding. Triodos Investment Management BV owned about 0.08% of ResMed worth $31,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RMD. Pallas Capital Advisors LLC boosted its stake in shares of ResMed by 11.9% in the first quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the medical equipment provider's stock valued at $693,000 after purchasing an additional 330 shares during the period. Yousif Capital Management LLC boosted its stake in shares of ResMed by 0.5% in the first quarter. Yousif Capital Management LLC now owns 22,482 shares of the medical equipment provider's stock valued at $5,033,000 after purchasing an additional 101 shares during the period. GAMMA Investing LLC boosted its stake in shares of ResMed by 7.6% in the first quarter. GAMMA Investing LLC now owns 3,277 shares of the medical equipment provider's stock valued at $734,000 after purchasing an additional 231 shares during the period. CX Institutional boosted its stake in shares of ResMed by 6.8% in the first quarter. CX Institutional now owns 1,530 shares of the medical equipment provider's stock valued at $342,000 after purchasing an additional 97 shares during the period. Finally, Simon Quick Advisors LLC boosted its stake in shares of ResMed by 18.3% in the first quarter. Simon Quick Advisors LLC now owns 1,951 shares of the medical equipment provider's stock valued at $437,000 after purchasing an additional 302 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Stock Down 1.6%

Shares of NYSE:RMD opened at $277.87 on Friday. The company has a market capitalization of $40.55 billion, a PE ratio of 29.22, a P/E/G ratio of 1.90 and a beta of 0.83. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The firm has a 50 day simple moving average of $278.65 and a 200-day simple moving average of $255.11.

ResMed (NYSE:RMD - Get Free Report) last announced its 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 business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 EPS. On average, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend 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 is presently 25.24%.

Analyst Upgrades and Downgrades

RMD has been the subject of several recent research reports. William Blair raised shares of ResMed to a "strong-buy" rating in a research note on Friday, August 1st. Piper Sandler lifted 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. KeyCorp lifted 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. CLSA upgraded shares of ResMed from a "hold" rating to an "outperform" rating in a research note on Tuesday, September 2nd. Finally, Mizuho lifted their price target on shares of ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $294.20.

Insider Activity

In other news, General Counsel Michael J. Rider sold 100 shares of ResMed stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total value of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares of the company's stock, valued at $3,107,675.72. The trade was a 0.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the completion of the transaction, the chief executive officer directly owned 467,792 shares in the company, valued at $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. Insiders have sold 18,743 shares of company stock valued at $5,284,514 in the last ninety days. 0.71% of the stock is currently owned by company insiders.

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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