ResMed Inc. (NYSE:RMD) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC cut its position in ResMed Inc. (NYSE:RMD) by 7.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,846 shares of the medical equipment provider’s stock after selling 225 shares during the period. Private Advisor Group LLC’s holdings in ResMed were worth $695,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RMD. OFI Invest Asset Management purchased a new stake in ResMed in the second quarter valued at approximately $32,000. Versant Capital Management Inc lifted its stake in ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares during the period. Financial Connections Group Inc. purchased a new stake in shares of ResMed in the 2nd quarter valued at $37,000. Blue Trust Inc. increased its stake in shares of ResMed by 182.7% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 137 shares during the period. Finally, Rothschild Investment LLC purchased a new position in shares of ResMed during the second quarter worth $44,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RMD has been the topic of several recent research reports. KeyCorp upped their price target on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Royal Bank of Canada lifted their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Wolfe Research restated an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Bank of America increased their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.70.

ResMed Price Performance

Shares of NYSE RMD opened at $244.28 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The firm has a market cap of $35.86 billion, a PE ratio of 32.35, a PEG ratio of 1.78 and a beta of 0.69. ResMed Inc. has a one year low of $140.81 and a one year high of $260.49. The firm has a fifty day moving average of $242.63 and a 200 day moving average of $220.29.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts predict that ResMed Inc. will post 9.22 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Insider Transactions at ResMed

In related news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $212.16, for a total value of $212,160.00. Following the completion of the transaction, the chief financial officer now directly owns 89,056 shares of the company’s stock, valued at approximately $18,894,120.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $212.16, for a total transaction of $212,160.00. Following the completion of the sale, the chief financial officer now owns 89,056 shares of the company’s stock, valued at approximately $18,894,120.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the sale, the director now owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,874 shares of company stock valued at $17,731,782 over the last ninety days. Insiders own 0.71% of the company’s stock.

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.