EP Wealth Advisors LLC Cuts Stock Holdings in ResMed Inc. (NYSE:RMD)

EP Wealth Advisors LLC cut its stake in ResMed Inc. (NYSE:RMD) by 15.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,006 shares of the medical equipment provider’s stock after selling 366 shares during the period. EP Wealth Advisors LLC’s holdings in ResMed were worth $384,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of ResMed by 24.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after buying an additional 35,273 shares during the period. Mediolanum International Funds Ltd acquired a new position in ResMed during the 1st quarter worth approximately $2,246,000. Janney Montgomery Scott LLC increased its position in shares of ResMed by 5.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock valued at $16,102,000 after purchasing an additional 4,075 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of ResMed by 3,599.0% in the 1st 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 in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of ResMed during the 4th quarter worth $7,535,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

NYSE RMD opened at $238.43 on Friday. The firm has a market cap of $35.03 billion, a P/E ratio of 36.63, a P/E/G ratio of 2.36 and a beta of 0.69. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $255.18. The business’s 50-day moving average price is $233.29 and its 200 day moving average price is $212.51. 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 (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the business posted $1.60 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts expect that ResMed Inc. will post 8.97 earnings per share for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was 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 dividend payout ratio is presently 32.57%.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total transaction of $474,400.00. Following the transaction, the director now directly owns 85,204 shares in the company, valued at $20,210,388.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $237.20, for a total value of $474,400.00. Following the sale, the director now directly owns 85,204 shares in the company, valued at $20,210,388.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $194.35, for a total value of $194,350.00. Following the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at approximately $17,502,383.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,931 shares of company stock worth $23,119,207. Company insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

RMD has been the topic of several recent analyst reports. Baird R W raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Finally, Robert W. Baird started coverage on shares of ResMed in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $280.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.75.

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.