ResMed Inc. (NYSE:RMD) Shares Sold by Tobam

Tobam reduced its holdings in shares of ResMed Inc. (NYSE:RMD) by 18.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,181 shares of the medical equipment provider’s stock after selling 1,198 shares during the quarter. Tobam’s holdings in ResMed were worth $1,185,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. True Wealth Design LLC increased its holdings in shares of 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 acquiring an additional 110 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in ResMed during the 3rd quarter worth approximately $34,000. Rosenberg Matthew Hamilton acquired a new position in ResMed during the 4th quarter valued at approximately $54,000. Capital Performance Advisors LLP purchased a new position in shares of ResMed in the third quarter worth $60,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of ResMed by 55.7% during the third quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock worth $83,000 after buying an additional 122 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

Shares of NYSE RMD opened at $237.11 on Friday. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The company’s fifty day moving average price is $239.68 and its 200 day moving average price is $237.19. The company has a market capitalization of $34.81 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, research analysts predict that ResMed Inc. will post 9.41 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Insider Activity

In other news, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the sale, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,094 shares of company stock worth $2,704,941 over the last three months. 0.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Robert W. Baird raised their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Royal Bank of Canada upped their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus began coverage on shares of ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $244.73.

ResMed Company 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.