Stegent Equity Advisors Inc. Sells 2,229 Shares of ResMed Inc. $RMD

Stegent Equity Advisors Inc. lessened its holdings in ResMed Inc. (NYSE:RMD) by 72.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 835 shares of the medical equipment provider’s stock after selling 2,229 shares during the period. Stegent Equity Advisors Inc.’s holdings in ResMed were worth $229,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Johnson Investment Counsel Inc. increased its holdings in ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after purchasing an additional 45 shares in the last quarter. Quadcap Wealth Management LLC boosted its position in shares of ResMed by 2.5% during the second quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock valued at $485,000 after buying an additional 45 shares during the last quarter. NBT Bank N A NY grew its holdings in ResMed by 22.9% during the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock worth $69,000 after buying an additional 47 shares in the last quarter. OFI Invest Asset Management grew its holdings in ResMed by 10.4% during the third quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock worth $139,000 after buying an additional 48 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in ResMed by 3.0% in the 2nd quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider’s stock valued at $451,000 after buying an additional 51 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on RMD shares. Robert W. Baird reaffirmed a “neutral” rating and set a $275.00 price objective (down from $300.00) on shares of ResMed in a report on Tuesday, December 16th. Royal Bank Of Canada upped their price objective on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. KeyCorp lifted their target price on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Baird R W downgraded ResMed from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ResMed in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $296.09.

ResMed Stock Performance

Shares of RMD opened at $257.71 on Friday. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. The stock’s fifty day moving average price is $249.44 and its two-hundred day moving average price is $263.26. The firm has a market cap of $37.61 billion, a PE ratio of 26.38, a PEG ratio of 1.73 and a beta of 0.88.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.06. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company earned $2.20 EPS. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s payout ratio is 24.56%.

Insider Activity at ResMed

In other ResMed news, Director Witte Jan De sold 2,055 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total transaction of $524,025.00. Following the sale, the director owned 4,261 shares in the company, valued at $1,086,555. This represents a 32.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $115,837,766.58. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 21,594 shares of company stock worth $5,403,495. 0.65% of the stock is owned by corporate insiders.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.