Resources Management Corp CT ADV Trims Holdings in ResMed Inc. (NYSE:RMD)

Resources Management Corp CT ADV reduced its holdings in shares of ResMed Inc. (NYSE:RMD) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,001 shares of the medical equipment provider’s stock after selling 87 shares during the quarter. Resources Management Corp CT ADV’s holdings in ResMed were worth $766,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of Montreal Can boosted its stake in shares of ResMed by 65.0% during the 2nd quarter. Bank of Montreal Can now owns 251,490 shares of the medical equipment provider’s stock valued at $47,086,000 after buying an additional 99,106 shares during the last quarter. Lombard Odier Asset Management Europe Ltd boosted its stake in shares of ResMed by 88.4% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 99,803 shares of the medical equipment provider’s stock valued at $19,104,000 after buying an additional 46,816 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in shares of ResMed by 36.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,402 shares of the medical equipment provider’s stock valued at $268,000 after buying an additional 378 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in ResMed by 74.1% during the second quarter. Public Sector Pension Investment Board now owns 5,632 shares of the medical equipment provider’s stock worth $1,078,000 after purchasing an additional 2,398 shares during the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in ResMed during the second quarter worth $259,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Price Performance

Shares of RMD opened at $246.18 on Tuesday. The firm has a market capitalization of $36.17 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 2.50 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The stock’s fifty day moving average is $227.73 and its 200-day moving average is $209.99.

ResMed (NYSE:RMD) last released 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 firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. ResMed’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.60 earnings per share. Equities analysts anticipate that ResMed Inc. will post 8.92 EPS for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were issued a dividend of $0.53 per share. 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 yield of 0.86%. The ex-dividend date was Thursday, August 15th. ResMed’s payout ratio is presently 32.57%.

Insider Buying and Selling

In related news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $246.42, for a total value of $246,420.00. Following the completion of the transaction, the chief financial officer now owns 96,812 shares in the company, valued at approximately $23,856,413.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The disclosure for this sale can be found here. Insiders have sold a total of 102,931 shares of company stock valued at $22,644,807 over the last three months. Company insiders own 1.21% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the topic of several research analyst reports. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. KeyCorp raised their price objective on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Royal Bank of Canada raised their price objective on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Finally, Wolfe Research restated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed presently has a consensus rating of “Hold” and a consensus price target of $199.70.

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.