Emerald Advisers LLC Sells 3,965 Shares of ResMed Inc. (NYSE:RMD)

Emerald Advisers LLC trimmed its stake in ResMed Inc. (NYSE:RMD) by 80.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 970 shares of the medical equipment provider’s stock after selling 3,965 shares during the quarter. Emerald Advisers LLC’s holdings in ResMed were worth $186,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC bought a new stake in ResMed in the fourth quarter worth $27,000. BOK Financial Private Wealth Inc. bought a new stake in ResMed in the first quarter worth $35,000. OFI Invest Asset Management bought a new stake in ResMed in the second quarter worth $32,000. Versant Capital Management Inc boosted its holdings in ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 120 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new stake in ResMed in the second quarter worth $37,000. 54.98% of the stock is owned by institutional investors.

ResMed Stock Up 1.9 %

ResMed stock opened at $249.56 on Tuesday. The stock has a market cap of $36.67 billion, a PE ratio of 38.33, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The stock has a fifty day moving average of $217.10 and a 200 day moving average of $205.25.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. ResMed’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 earnings per share. As a group, sell-side analysts predict that ResMed Inc. will post 8.91 EPS for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is 32.57%.

Insider Activity at ResMed

In other ResMed news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares in the company, valued at $4,068,108.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the sale, the director now owns 87,204 shares in the company, valued at $20,920,239.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,248 shares of company stock worth $17,488,623. 1.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Royal Bank of Canada boosted their target price on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Needham & Company LLC downgraded ResMed from a “buy” rating to a “hold” rating and set a $236.00 price target on the stock. in a report on Wednesday, September 4th. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Finally, KeyCorp upped their price target on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $204.70.

ResMed 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.