ResMed Inc. (NYSE:RMD) Shares Sold by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC lessened its position in shares of ResMed Inc. (NYSE:RMD) by 35.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,956 shares of the medical equipment provider’s stock after selling 1,648 shares during the quarter. Applied Finance Capital Management LLC’s holdings in ResMed were worth $676,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RMD. Invesco Ltd. increased its holdings in ResMed by 32.2% during the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after acquiring an additional 566,046 shares in the last quarter. Norges Bank acquired a new position in shares of ResMed during the 4th quarter worth approximately $118,605,000. Geode Capital Management LLC lifted its stake in ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after buying an additional 380,383 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in ResMed by 60.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after buying an additional 250,746 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in ResMed during the fourth quarter worth $50,364,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,004 shares of company stock worth $9,618,128. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

Shares of ResMed stock opened at $204.54 on Wednesday. The business’s fifty day moving average price is $228.02 and its 200 day moving average price is $236.22. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $30.04 billion, a P/E ratio of 24.15, a PEG ratio of 1.53 and a beta of 0.75.

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

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 1.04%. ResMed’s dividend payout ratio (DPR) is 25.03%.

Wall Street Analyst Weigh In

RMD has been the topic of a number of analyst reports. KeyCorp increased their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Stifel Nicolaus cut their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. The Goldman Sachs Group assumed coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, Morgan Stanley assumed coverage on ResMed in a report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus price target of $249.73.

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.