Everence Capital Management Inc. Has $382,000 Stock Holdings in ResMed Inc. (NYSE:RMD)

Everence Capital Management Inc. reduced its position in shares of ResMed Inc. (NYSE:RMD) by 29.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,670 shares of the medical equipment provider’s stock after selling 700 shares during the period. Everence Capital Management Inc.’s holdings in ResMed were worth $382,000 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. TD Asset Management Inc boosted its stake in shares of ResMed by 14.7% in the 2nd quarter. TD Asset Management Inc now owns 77,474 shares of the medical equipment provider’s stock valued at $14,830,000 after purchasing an additional 9,930 shares in the last quarter. National Bank of Canada FI lifted its stake in ResMed by 14.5% in the 2nd quarter. National Bank of Canada FI now owns 47,531 shares of the medical equipment provider’s stock valued at $8,885,000 after purchasing an additional 6,014 shares during the last quarter. Private Advisor Group LLC boosted its position in ResMed by 15.1% in the second quarter. Private Advisor Group LLC now owns 3,071 shares of the medical equipment provider’s stock valued at $588,000 after buying an additional 402 shares in the last quarter. Candriam S.C.A. grew its stake in shares of ResMed by 10.8% during the second quarter. Candriam S.C.A. now owns 9,371 shares of the medical equipment provider’s stock worth $1,794,000 after buying an additional 912 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of ResMed by 471.6% during the second quarter. Acadian Asset Management LLC now owns 3,681 shares of the medical equipment provider’s stock worth $704,000 after buying an additional 3,037 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Trading Up 1.5 %

RMD opened at $235.08 on Tuesday. ResMed Inc. has a twelve month low of $166.90 and a twelve month high of $260.49. The company has a fifty day moving average of $240.72 and a 200-day moving average of $230.07. The stock has a market cap of $34.51 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 1.73 and a beta of 0.70. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.64 EPS. On average, sell-side analysts predict that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Insiders Place Their Bets

In other news, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now directly owns 81,218 shares of the company’s stock, valued at $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,359 shares of company stock worth $3,735,309. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Royal Bank of Canada increased their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. KeyCorp lifted their price target on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Bank of America raised their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Robert W. Baird lifted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Wolfe Research reissued an “underperform” rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.91.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.