AM Squared Ltd Sells 200 Shares of ResMed Inc. (NYSE:RMD)

AM Squared Ltd trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 40.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 300 shares of the medical equipment provider’s stock after selling 200 shares during the period. AM Squared Ltd’s holdings in ResMed were worth $57,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in ResMed by 11,960.3% in the 4th quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock worth $3,817,000 after acquiring an additional 22,007 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of ResMed by 81.6% in the fourth quarter. Russell Investments Group Ltd. now owns 79,160 shares of the medical equipment provider’s stock worth $13,629,000 after purchasing an additional 35,562 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in shares of ResMed by 36.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 6,322 shares of the medical equipment provider’s stock valued at $1,088,000 after purchasing an additional 1,695 shares during the period. First Trust Direct Indexing L.P. lifted its stake in shares of ResMed by 24.2% during the 4th quarter. First Trust Direct Indexing L.P. now owns 3,785 shares of the medical equipment provider’s stock valued at $651,000 after buying an additional 738 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in ResMed by 16.1% in the 4th quarter. Fisher Asset Management LLC now owns 22,482 shares of the medical equipment provider’s stock worth $3,867,000 after buying an additional 3,110 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the transaction, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Michael J. Rider sold 882 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares in the company, valued at approximately $2,428,272. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $211.66, for a total value of $3,107,803.78. Following the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at approximately $93,299,516.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,931 shares of company stock valued at $20,326,437. Corporate insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

RMD has been the topic of a number of analyst reports. StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a report on Friday. Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Royal Bank of Canada raised their target price on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $236.00 price target on shares of ResMed in a research report on Friday, August 2nd. Finally, KeyCorp raised their price objective on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.70.

ResMed Price Performance

NYSE:RMD traded up $1.86 during midday trading on Friday, hitting $245.02. The company had a trading volume of 1,084,175 shares, compared to its average volume of 1,004,433. The company has a market capitalization of $36.00 billion, a PE ratio of 37.64, a P/E/G ratio of 2.44 and a beta of 0.66. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $246.80. The stock’s fifty day moving average price is $210.08 and its 200-day moving average price is $202.37.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.60 EPS. As a group, research analysts expect that ResMed Inc. will post 8.91 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, August 15th. ResMed’s payout ratio is presently 32.57%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.