Blair William & Co. IL Sells 15,263 Shares of ResMed Inc. (NYSE:RMD)

Blair William & Co. IL lowered its holdings in ResMed Inc. (NYSE:RMD) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 251,255 shares of the medical equipment provider’s stock after selling 15,263 shares during the quarter. Blair William & Co. IL’s holdings in ResMed were worth $57,459,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RMD. True Wealth Design LLC boosted its position in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of ResMed during the fourth quarter valued at about $39,000. BankPlus Trust Department purchased a new position in shares of ResMed in the 4th quarter worth approximately $44,000. Rosenberg Matthew Hamilton bought a new position in shares of ResMed during the 4th quarter worth approximately $54,000. Finally, SBI Securities Co. Ltd. acquired a new stake in ResMed in the fourth quarter valued at approximately $67,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $104,394,182.40. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RMD has been the subject of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group started coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, KeyCorp upped their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $249.73.

ResMed Price Performance

Shares of RMD opened at $222.62 on Friday. The company has a market capitalization of $32.69 billion, a P/E ratio of 26.28, a P/E/G ratio of 1.53 and a beta of 0.74. The business’s 50-day moving average is $234.10 and its two-hundred day moving average is $238.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating 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 predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

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.