ResMed Inc. (NYSE:RMD) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its holdings in ResMed Inc. (NYSE:RMD) by 8.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,643 shares of the medical equipment provider’s stock after selling 801 shares during the quarter. Commonwealth Equity Services LLC’s holdings in ResMed were worth $1,655,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of ResMed during the fourth quarter worth about $27,000. OFI Invest Asset Management acquired a new position in shares of ResMed during the second quarter worth about $32,000. BOK Financial Private Wealth Inc. acquired a new position in shares of ResMed during the first quarter worth about $35,000. Versant Capital Management Inc boosted its holdings in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 120 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in ResMed during the second quarter worth about $37,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the transaction, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the transaction, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the completion of the transaction, the chief financial officer now owns 90,056 shares of the company’s stock, valued at $17,502,383.60. The disclosure for this sale can be found here. Insiders sold 102,931 shares of company stock valued at $22,644,807 over the last 90 days. Corporate insiders own 1.21% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $248.93 on Friday. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The company has a 50 day moving average price of $221.95 and a 200 day moving average price of $207.01. The firm has a market capitalization of $36.58 billion, a price-to-earnings ratio of 38.24, a price-to-earnings-growth ratio of 2.51 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business posted $1.60 earnings per share. ResMed’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that ResMed Inc. will post 8.92 EPS for the current year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be given a $0.53 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is presently 32.57%.

Analyst Upgrades and Downgrades

RMD has been the topic of several recent research reports. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Royal Bank of Canada upped their price target on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Needham & Company LLC lowered shares of ResMed from a “buy” rating to a “hold” rating and set a $236.00 price objective for the company. in a research report on Wednesday, September 4th. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Finally, StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $204.70.

About ResMed

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.