ResMed Inc. (NYSE:RMD) Shares Sold by EP Wealth Advisors LLC

EP Wealth Advisors LLC decreased its holdings in ResMed Inc. (NYSE:RMD) by 13.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,448 shares of the medical equipment provider’s stock after selling 375 shares during the quarter. EP Wealth Advisors LLC’s holdings in ResMed were worth $421,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. MV Capital Management Inc. boosted its position in shares of ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in ResMed by 7.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock worth $155,000 after acquiring an additional 64 shares during the last quarter. Czech National Bank raised its stake in ResMed by 0.3% in the 4th quarter. Czech National Bank now owns 25,762 shares of the medical equipment provider’s stock worth $4,432,000 after acquiring an additional 81 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its stake in ResMed by 5.9% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 1,567 shares of the medical equipment provider’s stock worth $270,000 after acquiring an additional 88 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its stake in ResMed by 1.6% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,490 shares of the medical equipment provider’s stock worth $1,116,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RMD shares. Royal Bank of Canada raised their target price on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. KeyCorp lifted their price objective on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Oppenheimer reduced their price objective on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Needham & Company LLC lifted their price objective on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Mizuho reiterated a “buy” rating and set a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $202.80.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total value of $3,178,869.50. Following the sale, the chief executive officer now directly owns 440,752 shares in the company, valued at approximately $95,422,808. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Karen Drexler sold 425 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the transaction, the director now directly owns 8,446 shares in the company, valued at approximately $1,815,214.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total value of $3,178,869.50. Following the transaction, the chief executive officer now owns 440,752 shares in the company, valued at $95,422,808. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,151 shares of company stock worth $6,666,409. Insiders own 1.21% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $212.27 on Wednesday. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $229.97. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $31.18 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 2.08 and a beta of 0.69. The stock’s 50-day moving average price is $206.52 and its 200-day moving average price is $189.64.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm posted $1.68 EPS. ResMed’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts expect that ResMed Inc. will post 7.7 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 9th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.90%. The ex-dividend date was Wednesday, May 8th. ResMed’s payout ratio is 29.49%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.