ResMed Inc. (NYSE:RMD) Shares Sold by SlateStone Wealth LLC

SlateStone Wealth LLC reduced its position in ResMed Inc. (NYSE:RMD) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,178 shares of the medical equipment provider’s stock after selling 910 shares during the quarter. SlateStone Wealth LLC’s holdings in ResMed were worth $1,407,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. MV Capital Management Inc. grew its holdings in shares of ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares during the period. Great Lakes Advisors LLC grew its holdings in shares of ResMed by 2.6% during the 3rd quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock worth $391,000 after purchasing an additional 68 shares during the period. Harfst & Associates Inc. grew its holdings in shares of ResMed by 0.7% during the 3rd quarter. Harfst & Associates Inc. now owns 10,995 shares of the medical equipment provider’s stock worth $1,626,000 after purchasing an additional 73 shares during the period. Czech National Bank boosted its holdings in ResMed by 0.3% during the 4th quarter. Czech National Bank now owns 25,762 shares of the medical equipment provider’s stock valued at $4,432,000 after acquiring an additional 81 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in ResMed by 12.9% during the 3rd quarter. Global Retirement Partners LLC now owns 840 shares of the medical equipment provider’s stock valued at $124,000 after acquiring an additional 96 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a filing with the SEC, which is available at this link. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,216 shares of company stock valued at $2,046,617. Corporate insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RMD shares. Royal Bank of Canada raised their target price on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a report on Thursday, January 25th. Oppenheimer raised their target price on ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. JPMorgan Chase & Co. raised their target price on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Mizuho restated a “buy” rating and set a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Finally, Needham & Company LLC increased their price target on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.20.

ResMed Stock Up 2.3 %

Shares of NYSE RMD traded up $4.18 during midday trading on Tuesday, hitting $184.53. 570,839 shares of the company’s stock were exchanged, compared to its average volume of 1,006,160. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $243.52. The company has a market cap of $27.14 billion, a PE ratio of 29.81, a P/E/G ratio of 2.19 and a beta of 0.67. The firm’s fifty day simple moving average is $186.14 and its 200-day simple moving average is $171.04.

ResMed (NYSE:RMD) last issued its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the company earned $1.66 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Research analysts predict that ResMed Inc. will post 7.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is presently 31.74%.

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.