ResMed Inc. (NYSE:RMD) Shares Sold by Blair William & Co. IL

Blair William & Co. IL lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 10.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 257,904 shares of the medical equipment provider’s stock after selling 30,157 shares during the quarter. Blair William & Co. IL owned about 0.18% of ResMed worth $49,368,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in RMD. Principal Securities Inc. acquired a new stake in shares of ResMed during the fourth quarter worth about $49,000. Dimensional Fund Advisors LP lifted its position in shares of ResMed by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider’s stock worth $92,285,000 after purchasing an additional 40,605 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of ResMed by 5.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,128 shares of the medical equipment provider’s stock worth $538,000 after purchasing an additional 171 shares in the last quarter. Brown Advisory Inc. acquired a new stake in shares of ResMed during the fourth quarter worth about $200,000. Finally, Norges Bank acquired a new stake in shares of ResMed during the fourth quarter worth about $233,966,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at $85,060,983.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at $85,060,983.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the sale, the director now directly owns 87,204 shares of the company’s stock, valued at $20,920,239.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,931 shares of company stock worth $22,644,807. Insiders own 1.21% of the company’s stock.

ResMed Stock Performance

Shares of ResMed stock opened at $237.90 on Thursday. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $34.95 billion, a P/E ratio of 36.54, a P/E/G ratio of 2.49 and a beta of 0.69. The firm’s 50 day moving average is $225.25 and its two-hundred day moving average is $208.53. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $255.18.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.60 earnings per share. Research analysts forecast that ResMed Inc. will post 8.92 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio (DPR) is 32.57%.

Analysts Set New Price Targets

Several analysts recently weighed in on RMD shares. KeyCorp raised their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their target price on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Wednesday. Finally, Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 target price on shares of ResMed in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $199.70.

ResMed 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.