Telos Capital Management Inc. Cuts Stock Position in ResMed Inc. (NYSE:RMD)

Telos Capital Management Inc. lowered its holdings in ResMed Inc. (NYSE:RMD) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,299 shares of the medical equipment provider’s stock after selling 78 shares during the period. Telos Capital Management Inc.’s holdings in ResMed were worth $6,929,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peak Financial Advisors LLC purchased a new position in ResMed in the fourth quarter worth $2,972,000. Principal Financial Group Inc. boosted its position in ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after purchasing an additional 5,284 shares during the last quarter. Retireful LLC purchased a new position in ResMed in the third quarter worth $742,000. Spire Wealth Management boosted its position in ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in ResMed by 5.1% in the third quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after purchasing an additional 2,878 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD opened at $237.11 on Friday. The stock’s 50-day simple moving average is $239.68 and its 200 day simple moving average is $237.19. The stock has a market capitalization of $34.81 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $263.05.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Research analysts forecast that ResMed Inc. will post 9.41 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. ResMed’s dividend payout ratio is currently 25.03%.

Analyst Ratings Changes

RMD has been the topic of several research analyst reports. Royal Bank of Canada boosted their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Robert W. Baird upped their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

Insiders Place Their Bets

In other news, insider Justin Leong sold 6,160 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the transaction, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,094 shares of company stock worth $2,704,941 in the last ninety days. 0.71% of the stock is currently owned by 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.