Yousif Capital Management LLC Reduces Stock Holdings in ResMed Inc. (NYSE:RMD)

Yousif Capital Management LLC cut its holdings in ResMed Inc. (NYSE:RMD) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,665 shares of the medical equipment provider’s stock after selling 706 shares during the period. Yousif Capital Management LLC’s holdings in ResMed were worth $3,899,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 128 shares during the last quarter. Operose Advisors LLC acquired a new position in shares of ResMed in the third quarter valued at approximately $32,000. Planned Solutions Inc. purchased a new position in shares of ResMed during the fourth quarter valued at approximately $34,000. MV Capital Management Inc. lifted its stake in shares of ResMed by 39.0% during the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 60 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in ResMed during the fourth quarter worth approximately $45,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RMD shares. Needham & Company LLC boosted their price target on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a report on Friday. Mizuho reiterated a “buy” rating and set a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price target on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Oppenheimer dropped their price objective on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday. Finally, UBS Group raised their target price on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.80.

Insider Activity

In related news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,216 shares of company stock worth $2,046,617. 1.21% of the stock is currently owned by company insiders.

ResMed Price Performance

ResMed stock opened at $218.06 on Friday. The firm has a fifty day moving average of $187.07 and a 200-day moving average of $172.12. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $243.52. The firm has a market capitalization of $32.07 billion, a P/E ratio of 33.50, a PEG ratio of 2.68 and a beta of 0.67.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a return on equity of 24.92% and a net margin of 20.91%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 earnings per share. As a group, analysts predict that ResMed Inc. will post 7.52 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.88%. ResMed’s payout ratio is currently 29.49%.

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.