Avior Wealth Management LLC Decreases Stock Position in ResMed Inc. (NYSE:RMD)

Avior Wealth Management LLC cut its position in ResMed Inc. (NYSE:RMD) by 68.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116 shares of the medical equipment provider’s stock after selling 257 shares during the period. Avior Wealth Management LLC’s holdings in ResMed were worth $28,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. iA Global Asset Management Inc. purchased a new position in ResMed in the 1st quarter worth approximately $3,055,000. Versor Investments LP boosted its stake in ResMed by 327.3% during the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock worth $900,000 after buying an additional 3,600 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in ResMed by 245.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider’s stock valued at $6,414,000 after buying an additional 23,801 shares in the last quarter. Addenda Capital Inc. increased its stake in shares of ResMed by 17.4% in the 2nd quarter. Addenda Capital Inc. now owns 58,986 shares of the medical equipment provider’s stock worth $11,291,000 after acquiring an additional 8,747 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in shares of ResMed by 5.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after acquiring an additional 2,878 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

NYSE:RMD opened at $249.68 on Tuesday. ResMed Inc. has a 52 week low of $151.95 and a 52 week high of $260.49. The company has a fifty day simple moving average of $241.82 and a two-hundred day simple moving average of $224.79. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a market cap of $36.65 billion, a price-to-earnings ratio of 33.07, a price-to-earnings-growth ratio of 1.77 and a beta of 0.69.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS 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 analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 EPS. As a group, equities analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. ResMed’s dividend payout ratio is currently 28.08%.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of analyst reports. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Bank of America upped their price objective on 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 ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, KeyCorp increased their price target on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

Insiders Place Their Bets

In other ResMed news, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $231.91, for a total value of $3,405,134.53. Following the completion of the transaction, the chief executive officer now owns 464,169 shares in the company, valued at approximately $107,645,432.79. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,334 shares of company stock worth $16,379,713 in the last 90 days. Corporate insiders own 0.71% of the company’s stock.

About ResMed

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.