Running Oak Capital LLC Trims Stock Position in ResMed Inc. $RMD

Running Oak Capital LLC trimmed its stake in ResMed Inc. (NYSE:RMD) by 2.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 65,961 shares of the medical equipment provider’s stock after selling 1,883 shares during the period. ResMed accounts for approximately 1.9% of Running Oak Capital LLC’s portfolio, making the stock its 16th biggest position. Running Oak Capital LLC’s holdings in ResMed were worth $17,018,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of ResMed by 1,168.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider’s stock worth $132,272,000 after purchasing an additional 544,311 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of ResMed by 334.0% in the 1st quarter. Allianz Asset Management GmbH now owns 455,124 shares of the medical equipment provider’s stock valued at $101,880,000 after purchasing an additional 350,245 shares during the period. Swedbank AB grew its stake in ResMed by 445.1% during the 1st quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider’s stock worth $88,940,000 after buying an additional 324,428 shares during the last quarter. Vanguard Group Inc. increased its position in ResMed by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider’s stock worth $4,139,815,000 after buying an additional 320,240 shares during the period. Finally, Nuveen LLC purchased a new stake in ResMed in the first quarter valued at approximately $69,492,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In other ResMed news, Director John Hernandez sold 2,575 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the sale, the director directly owned 4,045 shares in the company, valued at approximately $1,161,319.50. The trade was a 38.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the sale, the chief executive officer directly owned 455,503 shares in the company, valued at $127,303,978.44. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,734 shares of company stock valued at $3,019,169 in the last quarter. 0.71% of the stock is currently owned by corporate insiders.

ResMed Trading Up 0.7%

NYSE:RMD opened at $278.48 on Monday. The stock has a market capitalization of $40.77 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 1.87 and a beta of 0.83. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The stock has a fifty day moving average price of $278.16 and a two-hundred day moving average price of $253.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the company posted $2.08 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, August 14th. This is a positive change from ResMed’s previous quarterly dividend of $0.53. ResMed’s payout ratio is 25.24%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RMD. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Stifel Nicolaus raised their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 1st. Royal Bank Of Canada upped their target price on shares of ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 1st. UBS Group raised ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. Finally, CLSA raised ResMed from a “hold” rating to an “outperform” rating in a research note on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus target price of $294.20.

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.