Tobam Sells 1,198 Shares of ResMed Inc. (NYSE:RMD)

Tobam trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 18.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,181 shares of the medical equipment provider’s stock after selling 1,198 shares during the period. Tobam’s holdings in ResMed were worth $1,185,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. True Wealth Design LLC raised its holdings 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 acquiring an additional 110 shares during the period. Ashton Thomas Securities LLC bought a new stake in ResMed during the 3rd quarter valued at approximately $34,000. Rosenberg Matthew Hamilton purchased a new position in ResMed in the 4th quarter worth approximately $54,000. Capital Performance Advisors LLP bought a new position in ResMed in the 3rd quarter worth approximately $60,000. Finally, Venturi Wealth Management LLC boosted its stake in ResMed by 55.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock worth $83,000 after purchasing an additional 122 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 2.3 %

RMD opened at $237.11 on Friday. 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 stock’s 50 day moving average price is $239.68 and its 200-day moving average price is $237.19. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05. The stock has a market cap of $34.81 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 1.69 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 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%. On average, equities analysts forecast that ResMed Inc. will post 9.41 EPS for the current year.

ResMed Announces Dividend

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

Insider Buying and Selling at ResMed

In other news, insider Justin Leong sold 6,160 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,094 shares of company stock valued at $2,704,941 in the last three months. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the topic of several research analyst reports. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Royal Bank of Canada increased their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. increased 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.