Tredje AP fonden Sells 361 Shares of ResMed Inc. (NYSE:RMD)

Tredje AP fonden trimmed its holdings in ResMed Inc. (NYSE:RMD) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,927 shares of the medical equipment provider’s stock after selling 361 shares during the period. Tredje AP fonden’s holdings in ResMed were worth $4,389,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RMD. BOK Financial Private Wealth Inc. bought a new stake in ResMed in the first quarter worth $35,000. OFI Invest Asset Management acquired a new stake in shares of ResMed in the second quarter worth about $32,000. Versant Capital Management Inc boosted its stake in shares of ResMed by 196.7% during the 2nd 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. Financial Connections Group Inc. bought a new stake in shares of ResMed during the 2nd quarter worth about $37,000. Finally, Riverview Trust Co acquired a new position in shares of ResMed during the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Royal Bank of Canada upped their target price on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. KeyCorp raised their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Finally, Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Hold” and a consensus price target of $199.70.

Insider Buying and Selling at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction dated 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 directly owns 90,056 shares of the company’s stock, valued at approximately $17,502,383.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $194.35, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $192.97, for a total value of $2,833,378.51. Following the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at $85,060,983.03. The disclosure for this sale can be found here. Insiders have sold 102,931 shares of company stock valued at $22,644,807 in the last 90 days. 1.21% of the stock is currently owned by company insiders.

ResMed Stock Down 5.2 %

Shares of RMD opened at $237.90 on Thursday. 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 simple moving average of $225.25 and a 200-day simple moving average of $208.53. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $255.18. The firm has a market capitalization of $34.95 billion, a P/E ratio of 36.54, a P/E/G ratio of 2.49 and a beta of 0.69.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. On average, equities research analysts expect that ResMed Inc. will post 8.92 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. This is an increase from ResMed’s previous quarterly dividend of $0.48. ResMed’s payout ratio is currently 32.57%.

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.