ResMed Inc. (NYSE:RMD) is Birch Capital Management LLC’s 5th Largest Position

Birch Capital Management LLC increased its position in ResMed Inc. (NYSE:RMD) by 21.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 35,543 shares of the medical equipment provider’s stock after purchasing an additional 6,268 shares during the period. ResMed accounts for 4.1% of Birch Capital Management LLC’s investment portfolio, making the stock its 5th largest holding. Birch Capital Management LLC’s holdings in ResMed were worth $8,128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RMD. State Street Corp grew its stake in shares of ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after buying an additional 116,918 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after acquiring an additional 380,383 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in ResMed by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after acquiring an additional 13,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after acquiring an additional 2,406 shares during the last quarter. Finally, Greenvale Capital LLP raised its position in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after purchasing an additional 275,000 shares during the period. 54.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ResMed news, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,359 shares of company stock valued at $3,735,309. Corporate insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RMD shares. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. KeyCorp upped their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Royal Bank of Canada lifted their target price on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $227.91.

ResMed Stock Performance

Shares of ResMed stock traded up $1.99 on Tuesday, reaching $237.08. 233,238 shares of the stock were exchanged, compared to its average volume of 551,014. The firm has a market capitalization of $34.80 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 1.73 and a beta of 0.70. ResMed Inc. has a twelve month low of $166.90 and a twelve month high of $260.49. The business has a 50 day moving average price of $240.48 and a two-hundred day moving average price of $230.23. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $1.64 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts anticipate that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, November 7th. ResMed’s dividend payout ratio is currently 28.08%.

ResMed 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.