Sequoia Financial Advisors LLC Decreases Stock Position in ResMed Inc. (NYSE:RMD)

Sequoia Financial Advisors LLC cut its holdings in ResMed Inc. (NYSE:RMD) by 25.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,843 shares of the medical equipment provider’s stock after selling 614 shares during the period. Sequoia Financial Advisors LLC’s holdings in ResMed were worth $365,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RMD. Atlantic Edge Private Wealth Management LLC purchased a new position in ResMed in the 4th quarter valued at about $27,000. Hall Laurie J Trustee purchased a new position in ResMed in the 1st quarter valued at about $32,000. Planned Solutions Inc. purchased a new position in ResMed in the 4th quarter valued at about $34,000. Riverview Trust Co purchased a new position in ResMed in the 1st quarter valued at about $42,000. Finally, MV Capital Management Inc. lifted its holdings in ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RMD. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Mizuho reaffirmed a “buy” rating and set a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. KeyCorp upped their price objective on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Royal Bank of Canada upped their price objective on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $236.00 price objective on shares of ResMed in a research note on Monday, June 24th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus target price of $202.80.

ResMed Stock Down 1.0 %

RMD opened at $192.86 on Tuesday. The firm has a 50 day moving average price of $207.99 and a 200 day moving average price of $192.17. The company has a market cap of $28.33 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 1.69 and a beta of 0.66. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $229.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned $1.68 earnings per share. ResMed’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts expect that ResMed Inc. will post 7.7 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is 29.49%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Witte Jan De sold 360 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the sale, the director now owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Karen Drexler sold 425 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares in the company, valued at approximately $1,815,214.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Witte Jan De sold 360 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the transaction, the director now owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The disclosure for this sale can be found here. Insiders sold 31,151 shares of company stock valued at $6,666,409 over the last 90 days. 1.21% 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.