XY Capital Ltd Lowers Stake in ResMed Inc. (NYSE:RMD)

XY Capital Ltd lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 49.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,111 shares of the medical equipment provider’s stock after selling 11,628 shares during the quarter. ResMed comprises about 1.0% of XY Capital Ltd’s holdings, making the stock its 15th largest position. XY Capital Ltd’s holdings in ResMed were worth $2,957,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. OFI Invest Asset Management purchased a new position in shares of ResMed in the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc lifted its holdings in shares of ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the period. Financial Connections Group Inc. purchased a new position in ResMed in the 2nd quarter valued at $37,000. Blue Trust Inc. increased its stake in ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 137 shares during the period. Finally, Rothschild Investment LLC purchased a new position in ResMed during the 2nd quarter worth $44,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. KeyCorp lifted their target price on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Bank of America boosted their target price on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Robert W. Baird upped their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Baird R W raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Royal Bank of Canada boosted their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average target price of $225.70.

ResMed Price Performance

Shares of NYSE RMD opened at $252.26 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $37.03 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 1.80 and a beta of 0.69. The company’s 50-day moving average price is $243.36 and its 200 day moving average price is $222.08. ResMed Inc. has a 52 week low of $140.81 and a 52 week high of $260.49.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business earned $1.64 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts forecast that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.84%. ResMed’s dividend payout ratio (DPR) is 28.08%.

Insider Activity

In related news, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the sale, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the sale, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $246.42, for a total value of $246,420.00. Following the completion of the transaction, the chief financial officer now owns 96,812 shares of the company’s stock, valued at $23,856,413.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,260 shares of company stock worth $14,887,967 over the last three months. 0.71% of the stock is currently owned by corporate insiders.

About ResMed

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.