ResMed Inc. (NYSE:RMD) Shares Sold by Peloton Wealth Strategists

Peloton Wealth Strategists decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 18.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,385 shares of the medical equipment provider’s stock after selling 975 shares during the quarter. Peloton Wealth Strategists’ holdings in ResMed were worth $839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Dorsey & Whitney Trust CO LLC increased its stake in ResMed by 3.7% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock worth $292,000 after buying an additional 52 shares during the period. QRG Capital Management Inc. increased its stake in ResMed by 4.5% during the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after buying an additional 56 shares during the period. Inspire Advisors LLC increased its stake in ResMed by 1.9% during the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock worth $586,000 after buying an additional 56 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in ResMed by 1.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after buying an additional 60 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in ResMed by 0.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock worth $2,497,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analysts Set New Price Targets

RMD has been the topic of several analyst reports. Bank of America lifted their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank of Canada boosted their target price on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday. Wolfe Research reissued an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Finally, Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.25.

Insider Buying and Selling at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $246.42, for a total transaction of $246,420.00. Following the completion of the transaction, the chief financial officer now directly owns 96,812 shares of the company’s stock, valued at approximately $23,856,413.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the company’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 transaction of $1,262,800.00. Following the completion of the sale, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The disclosure for this sale can be found here. Insiders sold 102,931 shares of company stock valued at $22,644,807 in the last ninety days. Company insiders own 1.21% of the company’s stock.

ResMed Trading Down 1.5 %

NYSE RMD opened at $239.00 on Friday. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The company has a 50-day simple moving average of $230.00 and a 200-day simple moving average of $210.84. 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 firm has a market capitalization of $35.12 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating 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 business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business posted $1.60 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that ResMed Inc. will post 8.92 earnings per share for the current year.

ResMed Increases Dividend

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

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.