L. Roy Papp & Associates LLP Sells 110 Shares of ResMed Inc. (NYSE:RMD)

L. Roy Papp & Associates LLP lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,360 shares of the medical equipment provider’s stock after selling 110 shares during the period. L. Roy Papp & Associates LLP’s holdings in ResMed were worth $1,600,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of RMD. Bank of New York Mellon Corp raised its position in shares of ResMed by 230.3% during the first quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock worth $755,112,000 after acquiring an additional 2,658,709 shares during the last quarter. Norges Bank acquired a new position in shares of ResMed in the 4th quarter worth approximately $233,966,000. Los Angeles Capital Management LLC boosted its stake in shares of ResMed by 3,599.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after purchasing an additional 485,540 shares during the last quarter. Greenvale Capital LLP boosted its stake in shares of ResMed by 198.3% in the 4th quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock valued at $94,938,000 after purchasing an additional 366,901 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in ResMed by 1,844.6% during the first quarter. Nordea Investment Management AB now owns 189,652 shares of the medical equipment provider’s stock worth $37,506,000 after buying an additional 179,899 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on RMD shares. Royal Bank of Canada increased their price target on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $236.00 price objective on shares of ResMed in a research report on Friday, August 2nd. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $204.70.

ResMed Stock Up 1.4 %

Shares of NYSE:RMD traded up $3.23 during midday trading on Friday, hitting $226.64. 643,701 shares of the company’s stock were exchanged, compared to its average volume of 1,047,609. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $231.50. The company has a market cap of $33.30 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 2.31 and a beta of 0.66. The stock has a 50 day moving average price of $206.87 and a 200-day moving average price of $200.07.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The firm had revenue of $1.20 billion during 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%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 EPS. On average, sell-side analysts anticipate that ResMed Inc. will post 8.72 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 0.94%. ResMed’s dividend payout ratio (DPR) is 32.57%.

Insiders Place Their Bets

In other news, insider Justin Leong sold 48,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares in the company, valued at $4,068,108.87. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the transaction, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the sale, the insider now owns 18,741 shares in the company, valued at $4,068,108.87. The disclosure for this sale can be found here. Insiders have sold 95,931 shares of company stock valued at $20,326,437 in the last three months. 1.21% of the stock is currently owned by insiders.

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.