ResMed Inc. (NYSE:RMD) Shares Sold by Susquehanna Portfolio Strategies LLC

Susquehanna Portfolio Strategies LLC trimmed its position in ResMed Inc. (NYSE:RMD) by 1.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,080 shares of the medical equipment provider’s stock after selling 2,200 shares during the period. ResMed makes up about 0.9% of Susquehanna Portfolio Strategies LLC’s portfolio, making the stock its 25th largest holding. Susquehanna Portfolio Strategies LLC’s holdings in ResMed were worth $21,454,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in ResMed by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after buying an additional 1,959,642 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in ResMed by 3,599.0% during the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after purchasing an additional 485,540 shares during the last quarter. Marshall Wace LLP bought a new stake in ResMed during the second quarter worth approximately $77,285,000. Greenvale Capital LLP boosted its holdings in ResMed by 198.3% during the fourth quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock worth $94,938,000 after buying an additional 366,901 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of ResMed in the second quarter valued at $42,036,000. 54.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RMD has been the topic of a number of recent research reports. Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Wednesday, September 18th. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. KeyCorp upped their price target on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average target price of $212.25.

Insider Activity

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly 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. In the last 90 days, insiders have sold 102,931 shares of company stock worth $22,644,807. 1.21% of the stock is owned by corporate insiders.

ResMed Trading Down 1.5 %

ResMed stock opened at $239.00 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $255.18. The company’s fifty day simple moving average is $230.00 and its 200-day simple moving average is $210.84. The stock has a market cap of $35.12 billion, a P/E ratio of 36.71, a P/E/G ratio of 2.46 and a beta of 0.69.

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

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.53 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. ResMed’s dividend payout ratio is 32.57%.

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.