Telos Capital Management Inc. Has $6.83 Million Stock Position in ResMed Inc. (NYSE:RMD)

Telos Capital Management Inc. increased its stake in shares of ResMed Inc. (NYSE:RMD) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,505 shares of the medical equipment provider’s stock after buying an additional 206 shares during the period. Telos Capital Management Inc.’s holdings in ResMed were worth $6,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RMD. Assetmark Inc. lifted its position in ResMed by 6,173.9% during the 4th quarter. Assetmark Inc. now owns 1,443 shares of the medical equipment provider’s stock worth $330,000 after buying an additional 1,420 shares in the last quarter. Atria Investments Inc lifted its position in ResMed by 21.5% during the 4th quarter. Atria Investments Inc now owns 2,106 shares of the medical equipment provider’s stock worth $482,000 after buying an additional 372 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in ResMed during the 4th quarter worth about $220,000. Raymond James Financial Inc. acquired a new position in ResMed during the 4th quarter valued at about $9,558,000. Finally, AlphaQuest LLC lifted its position in ResMed by 58.2% during the 4th quarter. AlphaQuest LLC now owns 2,962 shares of the medical equipment provider’s stock valued at $677,000 after purchasing an additional 1,090 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RMD shares. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Mizuho set a $265.00 target price on shares of ResMed in a research report on Wednesday, April 16th. Royal Bank Of Canada upped their target price on shares of ResMed from $247.00 to $255.00 and gave the company a “sector perform” rating in a research report on Thursday, April 24th. Piper Sandler cut their target price on shares of ResMed from $260.00 to $248.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Finally, KeyCorp set a $274.00 target price on shares of ResMed in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $259.33.

ResMed Price Performance

Shares of RMD opened at $255.75 on Thursday. The stock has a market capitalization of $37.50 billion, a P/E ratio of 28.70, a P/E/G ratio of 1.61 and a beta of 0.77. ResMed Inc. has a twelve month low of $189.15 and a twelve month high of $263.05. The company has a 50 day moving average of $249.64 and a 200-day moving average of $236.39. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $2.13 EPS. As a group, equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Thursday, May 8th. ResMed’s payout ratio is presently 23.79%.

Insider Activity

In other news, Director Peter C. Farrell sold 945 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total value of $241,438.05. Following the completion of the sale, the director owned 68,273 shares of the company’s stock, valued at approximately $17,443,068.77. This represents a 1.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $256.72, for a total value of $2,056,070.48. Following the completion of the sale, the chief executive officer directly owned 455,503 shares of the company’s stock, valued at approximately $116,936,730.16. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,013 shares of company stock valued at $7,238,913. 0.71% of the stock is owned by insiders.

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.