Bahl & Gaynor Inc. Trims Position in ResMed Inc. (NYSE:RMD)

Bahl & Gaynor Inc. decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,024 shares of the medical equipment provider’s stock after selling 651 shares during the quarter. Bahl & Gaynor Inc.’s holdings in ResMed were worth $8,322,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC purchased a new position in ResMed during the fourth quarter worth about $27,000. Hall Laurie J Trustee purchased a new position in shares of ResMed during the 1st quarter worth about $32,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of ResMed in the first quarter worth approximately $35,000. Planned Solutions Inc. purchased a new stake in ResMed in the fourth quarter valued at approximately $34,000. Finally, Riverview Trust Co acquired a new position in ResMed during the first quarter worth approximately $42,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 0.9 %

ResMed stock traded up $1.81 during midday trading on Tuesday, hitting $209.09. 172,667 shares of the company were exchanged, compared to its average volume of 1,040,806. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $229.97. The company’s fifty day moving average price is $205.21 and its 200-day moving average price is $194.34. The company has a market cap of $30.72 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 1.75 and a beta of 0.66.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 earnings per share. On average, research analysts predict that ResMed Inc. will post 7.7 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were given a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a yield of 0.92%. ResMed’s payout ratio is currently 29.49%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Needham & Company LLC reiterated a “buy” rating and issued a $236.00 target price on shares of ResMed in a report on Monday, June 24th. Mizuho reissued a “buy” rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. KeyCorp raised their price objective on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada boosted their target price on ResMed from $200.00 to $204.00 and gave the stock a “sector perform” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and an average price target of $203.20.

Insider Activity

In related news, Director Karen Drexler sold 425 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the transaction, the director now owns 8,446 shares in the company, valued at $1,815,214.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the sale, the director now directly owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Witte Jan De sold 360 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the transaction, the director now owns 7,519 shares in the company, valued at $1,641,322.51. The disclosure for this sale can be found here. Insiders sold 46,834 shares of company stock worth $9,694,137 over the last ninety days. Corporate insiders own 1.21% of the company’s stock.

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.