ResMed Inc. $RMD Stock Position Reduced by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. decreased its position in ResMed Inc. (NYSE:RMD) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,063 shares of the medical equipment provider’s stock after selling 3,910 shares during the quarter. ResMed comprises 2.6% of Washington Trust Advisors Inc.’s investment portfolio, making the stock its 12th largest holding. Washington Trust Advisors Inc.’s holdings in ResMed were worth $33,960,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in ResMed during the second quarter valued at about $306,452,000. Vanguard Group Inc. lifted its holdings in ResMed by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock worth $5,211,940,000 after buying an additional 293,515 shares in the last quarter. Ilex Capital Partners UK LLP bought a new position in ResMed in the second quarter valued at about $39,306,000. Allianz Asset Management GmbH grew its holdings in ResMed by 44.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock worth $97,837,000 after acquiring an additional 110,647 shares during the period. Finally, Swedbank AB raised its position in shares of ResMed by 25.4% during the 3rd quarter. Swedbank AB now owns 542,711 shares of the medical equipment provider’s stock valued at $148,556,000 after acquiring an additional 109,760 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RMD has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Morgan Stanley set a $305.00 price objective on shares of ResMed in a research report on Friday, October 31st. Weiss Ratings raised ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Royal Bank Of Canada lifted their target price on ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Finally, UBS Group restated a “buy” rating and issued a $345.00 price target on shares of ResMed in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $299.27.

ResMed Stock Up 1.1%

Shares of ResMed stock opened at $258.99 on Monday. The firm has a market cap of $37.73 billion, a PE ratio of 25.62, a P/E/G ratio of 1.72 and a beta of 0.87. The business’s 50 day simple moving average is $253.16 and its 200 day simple moving average is $261.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81.

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

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio is currently 23.74%.

Insider Activity

In other ResMed news, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the completion of the transaction, the director directly owned 4,261 shares of the company’s stock, valued at $1,086,555. The trade was a 32.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total transaction of $502,620.00. Following the completion of the transaction, the director directly owned 64,773 shares in the company, valued at approximately $16,278,102.63. This represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 18,137 shares of company stock worth $4,658,832 in the last quarter. Corporate insiders own 0.65% of the company’s stock.

ResMed 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.