XY Capital Ltd Invests $7.17 Million in ResMed Inc. $RMD

XY Capital Ltd bought a new stake in ResMed Inc. (NYSE:RMD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 36,769 shares of the medical equipment provider’s stock, valued at approximately $7,166,000. ResMed accounts for 6.9% of XY Capital Ltd’s portfolio, making the stock its 4th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Terra Nova Asset Management LLC increased its position in ResMed by 0.6% during the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after acquiring an additional 46 shares during the period. Kera Capital Partners Inc. boosted its holdings in ResMed by 6.6% in the 4th quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock valued at $217,000 after purchasing an additional 52 shares during the period. Andina Capital Management LLC boosted its holdings in ResMed by 2.9% in the 4th quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock valued at $479,000 after purchasing an additional 56 shares during the period. Turtle Creek Wealth Advisors LLC grew its position in shares of ResMed by 6.2% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 994 shares of the medical equipment provider’s stock worth $223,000 after purchasing an additional 58 shares in the last quarter. Finally, Inspire Investing LLC grew its position in shares of ResMed by 7.9% during the 4th quarter. Inspire Investing LLC now owns 902 shares of the medical equipment provider’s stock worth $217,000 after purchasing an additional 66 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $205.69, for a total value of $1,026,598.79. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares in the company, valued at approximately $95,904,196.64. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of ResMed stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the transaction, the director owned 52,773 shares in the company, valued at approximately $11,873,925. This trade represents a 13.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,973 shares of company stock worth $4,885,436 over the last three months. Insiders own 0.65% of the company’s stock.

ResMed Trading Down 0.8%

RMD opened at $228.81 on Friday. The company has a market cap of $33.01 billion, a P/E ratio of 21.94, a PEG ratio of 1.45 and a beta of 0.76. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $206.48 and its 200-day moving average is $219.98. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.89 by $0.06. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.55 EPS. Equities research analysts predict that ResMed Inc. will post 12.03 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 24th. Shareholders of record on Thursday, August 20th will be given a $0.66 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, August 20th. ResMed’s dividend payout ratio is 23.01%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Rothschild & Co Redburn assumed coverage on shares of ResMed in a report on Wednesday. They set a “neutral” rating and a $230.00 target price on the stock. Weiss Ratings raised ResMed from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Citigroup restated a “neutral” rating and issued a $235.00 price target (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. Piper Sandler reduced their price objective on shares of ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $239.38.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.