Washington Trust Advisors Inc. Sells 1,789 Shares of ResMed Inc. (NYSE:RMD)

Washington Trust Advisors Inc. reduced its holdings in shares of ResMed Inc. (NYSE:RMD) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 128,683 shares of the medical equipment provider’s stock after selling 1,789 shares during the quarter. ResMed accounts for about 2.5% of Washington Trust Advisors Inc.’s holdings, making the stock its 12th biggest holding. Washington Trust Advisors Inc.’s holdings in ResMed were worth $29,429,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Howard Capital Management Inc. raised its position in ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after purchasing an additional 45 shares during the last quarter. Ascent Group LLC raised its position in ResMed by 1.7% in the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after purchasing an additional 48 shares during the last quarter. SkyView Investment Advisors LLC raised its position in ResMed by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after purchasing an additional 51 shares during the last quarter. Wedmont Private Capital raised its position in ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after purchasing an additional 52 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in ResMed by 3.1% in the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after purchasing an additional 57 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RMD has been the subject of several research reports. Stifel Nicolaus dropped their target price on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday. KeyCorp increased their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Finally, The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus price target of $243.82.

ResMed Trading Down 3.3 %

NYSE RMD opened at $223.76 on Thursday. The business has a 50 day simple moving average of $236.90 and a 200 day simple moving average of $239.90. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05. The stock has a market capitalization of $32.86 billion, a P/E ratio of 26.42, a P/E/G ratio of 1.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.95%. ResMed’s dividend payout ratio is currently 25.03%.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,186 shares of company stock valued at $4,541,226. Company insiders own 0.71% 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. 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.