Sentry Investment Management LLC Sells 89 Shares of ResMed Inc. (NYSE:RMD)

Sentry Investment Management LLC cut its holdings in ResMed Inc. (NYSE:RMD) by 14.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 548 shares of the medical equipment provider’s stock after selling 89 shares during the quarter. Sentry Investment Management LLC’s holdings in ResMed were worth $125,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of ResMed by 24,311.9% during the third quarter. International Assets Investment Management LLC now owns 26,609 shares of the medical equipment provider’s stock worth $6,496,000 after purchasing an additional 26,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ResMed by 31.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,254 shares of the medical equipment provider’s stock worth $2,212,000 after purchasing an additional 2,212 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of ResMed by 35.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,271 shares of the medical equipment provider’s stock worth $1,775,000 after purchasing an additional 1,893 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of ResMed by 16.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 31,923 shares of the medical equipment provider’s stock worth $7,590,000 after purchasing an additional 4,507 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of ResMed by 6.5% during the third quarter. Nisa Investment Advisors LLC now owns 71,013 shares of the medical equipment provider’s stock worth $17,336,000 after purchasing an additional 4,310 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RMD has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. KeyCorp raised their price objective on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Piper Sandler raised their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Stock Down 0.7 %

Shares of RMD stock opened at $234.46 on Thursday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05. The firm’s fifty day moving average price is $237.15 and its two-hundred day moving average price is $239.62. The firm has a market capitalization of $34.43 billion, a P/E ratio of 27.68, a PEG ratio of 1.53 and a beta of 0.70.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed 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 completion of the transaction, the director now directly 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 a total of 12,147 shares of company stock valued at $2,905,745 in the last quarter. Company insiders own 0.71% of the company’s stock.

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.