Birch Capital Management LLC Decreases Position in ResMed Inc. (NYSE:RMD)

Birch Capital Management LLC reduced its position in shares of ResMed Inc. (NYSE:RMD) by 0.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 25,948 shares of the medical equipment provider’s stock after selling 132 shares during the quarter. ResMed accounts for about 3.4% of Birch Capital Management LLC’s investment portfolio, making the stock its 7th biggest holding. Birch Capital Management LLC’s holdings in ResMed were worth $5,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in RMD. Kayne Anderson Rudnick Investment Management LLC bought a new stake in ResMed during the third quarter worth about $26,000. Compass Wealth Management LLC acquired a new position in ResMed during the fourth quarter worth $26,000. International Assets Investment Management LLC raised its position in ResMed by 3,940.0% during the first quarter. International Assets Investment Management LLC now owns 202 shares of the medical equipment provider’s stock worth $44,000 after acquiring an additional 197 shares in the last quarter. Live Oak Investment Partners acquired a new stake in ResMed in the fourth quarter valued at $44,000. Finally, Ronald Blue Trust Inc. grew its position in shares of ResMed by 34.6% in the 1st quarter. Ronald Blue Trust Inc. now owns 214 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 55 shares during the period. Institutional investors and hedge funds own 63.79% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on RMD. Royal Bank of Canada cut their target price on shares of ResMed from $284.00 to $273.00 and set an “outperform” rating for the company in a research note on Monday, August 14th. UBS Group lowered ResMed from a “buy” rating to a “neutral” rating in a report on Tuesday, September 5th. Needham & Company LLC raised ResMed from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. KeyCorp reduced their price objective on shares of ResMed from $280.00 to $260.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. Finally, StockNews.com assumed coverage on shares of ResMed in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.29.

ResMed Price Performance

Shares of ResMed stock opened at $146.01 on Tuesday. The company has a quick ratio of 1.81, a current ratio of 3.12 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $21.47 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 2.23 and a beta of 0.52. ResMed Inc. has a twelve month low of $145.00 and a twelve month high of $243.52. The company has a 50-day simple moving average of $183.72 and a two-hundred day simple moving average of $207.16.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, August 3rd. The medical equipment provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.07). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.14 billion. ResMed had a net margin of 21.25% and a return on equity of 24.94%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 earnings per share. Analysts forecast that ResMed Inc. will post 7.08 EPS for the current year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from ResMed’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, August 16th. ResMed’s dividend payout ratio is presently 31.48%.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 5,675 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $183.20, for a total value of $1,039,660.00. Following the transaction, the chief executive officer now owns 436,930 shares in the company, valued at $80,045,576. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, insider Kaushik Ghoshal sold 500 shares of the company’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. Following the completion of the sale, the insider now directly owns 11,787 shares in the company, valued at $2,593,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 5,675 shares of ResMed stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $183.20, for a total value of $1,039,660.00. Following the completion of the transaction, the chief executive officer now owns 436,930 shares in the company, valued at approximately $80,045,576. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,900 shares of company stock valued at $3,021,246. 1.39% of the stock is owned by corporate insiders.

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.