American National Bank & Trust Sells 103 Shares of ResMed Inc. (NYSE:RMD)

American National Bank & Trust decreased its stake in ResMed Inc. (NYSE:RMD) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,303 shares of the medical equipment provider’s stock after selling 103 shares during the quarter. American National Bank & Trust’s holdings in ResMed were worth $562,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. BOK Financial Private Wealth Inc. acquired a new stake in shares of ResMed during the 1st quarter worth about $35,000. OFI Invest Asset Management bought a new stake in ResMed during the 2nd quarter worth approximately $32,000. Versant Capital Management Inc raised its position in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in shares of ResMed in the second quarter valued at $37,000. Finally, Riverview Trust Co bought a new position in shares of ResMed in the first quarter worth about $42,000. 54.98% of the stock is currently owned by institutional investors.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the transaction, the chief executive officer now owns 440,799 shares in the company, valued at $85,060,983.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares in the company, valued at $2,428,272. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the transaction, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at approximately $85,060,983.03. The disclosure for this sale can be found here. Insiders sold 104,931 shares of company stock valued at $23,119,207 in the last ninety days. 1.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RMD. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Tuesday. 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. Baird R W raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Finally, Bank of America boosted their target price on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One investment 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 data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus target price of $213.75.

ResMed Stock Up 0.0 %

ResMed stock opened at $238.86 on Thursday. The company has a 50 day moving average of $232.69 and a 200-day moving average of $212.33. 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 twelve month low of $132.24 and a twelve month high of $255.18. The stock has a market capitalization of $35.10 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 2.36 and a beta of 0.69.

ResMed (NYSE:RMD) last released its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. On average, equities research analysts anticipate that ResMed Inc. will post 8.97 EPS for the current fiscal 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 $0.53 dividend. This is a boost 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 yield of 0.89%. 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.