Telos Capital Management Inc. Buys 3,204 Shares of ResMed Inc. (NYSE:RMD)

Telos Capital Management Inc. boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 13.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,516 shares of the medical equipment provider’s stock after purchasing an additional 3,204 shares during the quarter. Telos Capital Management Inc.’s holdings in ResMed were worth $4,733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC bought a new position in ResMed during the third quarter worth $26,000. Compass Wealth Management LLC bought a new position in ResMed during the fourth quarter worth $26,000. International Assets Investment Management LLC bought a new position in ResMed during the third quarter worth $27,000. EverSource Wealth Advisors LLC boosted its position in ResMed by 224.6% during the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 128 shares during the period. Finally, Planned Solutions Inc. bought a new position in ResMed during the fourth quarter worth $34,000. 54.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,216 shares of company stock valued at $2,046,617. 1.21% of the stock is currently owned by corporate insiders.

ResMed Price Performance

RMD traded down $11.20 on Wednesday, hitting $173.66. 2,147,950 shares of the stock were exchanged, compared to its average volume of 985,649. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $243.52. The business has a 50-day moving average of $186.67 and a two-hundred day moving average of $170.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. The firm has a market capitalization of $25.54 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 2.29 and a beta of 0.67.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.07. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. ResMed’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 earnings per share. Sell-side analysts forecast that ResMed Inc. will post 7.46 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.11%. The ex-dividend date was Wednesday, February 7th. ResMed’s payout ratio is 31.74%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RMD. Mizuho reissued a “buy” rating and issued a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Needham & Company LLC boosted their target price on shares of ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Royal Bank of Canada boosted their target price on shares of ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research report on Thursday, January 25th. Finally, KeyCorp began coverage on shares of ResMed in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 target price for the company. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.20.

ResMed Company Profile

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.