Los Angeles Capital Management LLC Sells 100,306 Shares of ResMed Inc. $RMD

Los Angeles Capital Management LLC decreased its position in ResMed Inc. (NYSE:RMD) by 13.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 672,853 shares of the medical equipment provider’s stock after selling 100,306 shares during the period. ResMed accounts for 0.6% of Los Angeles Capital Management LLC’s portfolio, making the stock its 29th largest position. Los Angeles Capital Management LLC owned 0.46% of ResMed worth $173,596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RMD. Penserra Capital Management LLC boosted its stake in shares of ResMed by 6,500.0% in the 2nd quarter. Penserra Capital Management LLC now owns 792 shares of the medical equipment provider’s stock valued at $204,000 after purchasing an additional 780 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in ResMed by 12.0% in the second quarter. Wedbush Securities Inc. now owns 3,658 shares of the medical equipment provider’s stock valued at $944,000 after buying an additional 391 shares during the period. Horizon Investment Services LLC boosted its stake in ResMed by 15.8% in the second quarter. Horizon Investment Services LLC now owns 8,918 shares of the medical equipment provider’s stock valued at $2,301,000 after acquiring an additional 1,219 shares during the last quarter. Twin Capital Management Inc. grew its holdings in ResMed by 59.0% during the 2nd quarter. Twin Capital Management Inc. now owns 5,978 shares of the medical equipment provider’s stock worth $1,542,000 after acquiring an additional 2,219 shares during the period. Finally, Sienna Gestion grew its holdings in ResMed by 10.1% during the 2nd quarter. Sienna Gestion now owns 29,035 shares of the medical equipment provider’s stock worth $6,839,000 after acquiring an additional 2,655 shares during the period. 54.98% of the stock is owned by institutional investors.

ResMed Stock Performance

Shares of RMD stock opened at $251.41 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company’s 50 day moving average price is $268.54 and its two-hundred day moving average price is $261.99. The company has a market capitalization of $36.69 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed’s dividend payout ratio (DPR) is currently 24.56%.

Insider Transactions at ResMed

In other news, General Counsel Michael J. Rider sold 100 shares of ResMed stock in a transaction that occurred 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 sale, the general counsel directly owned 11,327 shares in the company, valued at $3,107,675.72. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Hernandez sold 2,575 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the sale, the director directly owned 4,045 shares in the company, valued at approximately $1,161,319.50. This represents a 38.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 10,684 shares of company stock valued at $3,032,064 over the last three months. Company insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RMD shares. UBS Group raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Piper Sandler boosted their target price on ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Royal Bank Of Canada upped their price target on ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Mizuho reduced their price objective on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Finally, William Blair upgraded shares of ResMed to a “strong-buy” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $297.45.

ResMed Company 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.