W.G. Shaheen & Associates DBA Whitney & Co Sells 4,003 Shares of ResMed Inc. $RMD

W.G. Shaheen & Associates DBA Whitney & Co decreased its position in shares of ResMed Inc. (NYSE:RMD) by 7.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,528 shares of the medical equipment provider’s stock after selling 4,003 shares during the quarter. ResMed makes up approximately 1.2% of W.G. Shaheen & Associates DBA Whitney & Co’s portfolio, making the stock its 24th biggest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in ResMed were worth $13,557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SJS Investment Consulting Inc. boosted its stake in shares of ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. WFA of San Diego LLC bought a new position in ResMed in the 2nd quarter valued at approximately $26,000. Westside Investment Management Inc. raised its holdings in ResMed by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 66 shares during the last quarter. GoalVest Advisory LLC acquired a new stake in ResMed during the 3rd quarter worth approximately $37,000. Finally, IMA Advisory Services Inc. grew its holdings in ResMed by 52.7% during the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $252.47 on Tuesday. The firm has a market cap of $36.78 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The business’s 50 day moving average price is $252.61 and its two-hundred day moving average price is $262.60.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.43 earnings per share. On average, equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is currently 23.74%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RMD. Wall Street Zen raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Wells Fargo & Company raised their target price on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Citigroup upped their price target on ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Robert W. Baird set a $281.00 price target on ResMed in a research note on Friday, January 30th. Finally, Stifel Nicolaus lifted their price objective on ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $299.27.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total transaction of $502,620.00. Following the completion of the transaction, the director owned 64,773 shares in the company, valued at approximately $16,278,102.63. The trade was a 3.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Witte Jan De sold 2,055 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total value of $524,025.00. Following the completion of the sale, the director directly owned 4,261 shares of the company’s stock, valued at approximately $1,086,555. This trade represents a 32.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 18,137 shares of company stock worth $4,658,832. 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.