ResMed Inc. $RMD Shares Sold by Marietta Investment Partners LLC

Marietta Investment Partners LLC cut its stake in shares of ResMed Inc. (NYSE:RMD) by 87.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,210 shares of the medical equipment provider’s stock after selling 8,648 shares during the period. Marietta Investment Partners LLC’s holdings in ResMed were worth $291,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Terra Nova Asset Management LLC increased its position in shares of ResMed by 0.6% during the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $2,136,000 after acquiring an additional 46 shares during the last quarter. IMA Advisory Services Inc. increased its position in shares of ResMed by 52.7% during the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 48 shares during the last quarter. Occidental Asset Management LLC increased its position in shares of ResMed by 3.0% during the fourth quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock valued at $409,000 after acquiring an additional 49 shares during the last quarter. Wedmont Private Capital increased its position in shares of ResMed by 2.7% during the fourth quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock valued at $542,000 after acquiring an additional 57 shares during the last quarter. Finally, New Wave Wealth Advisors LLC increased its position in shares of ResMed by 3.0% during the fourth quarter. New Wave Wealth Advisors LLC now owns 1,956 shares of the medical equipment provider’s stock valued at $471,000 after acquiring an additional 57 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Up 4.1%

Shares of RMD stock opened at $194.13 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The stock has a market capitalization of $28.16 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.19 and a beta of 0.80. The company has a 50 day moving average price of $213.72 and a 200 day moving average price of $237.50. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business posted $2.37 EPS. The firm’s revenue was up 10.8% on a year-over-year basis. Equities research analysts predict that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed’s payout ratio is currently 23.14%.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the completion of the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $96,890,463.86. This trade represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,973 shares of company stock valued at $3,865,591 in the last 90 days. Insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Robert W. Baird set a $225.00 price objective on shares of ResMed in a report on Friday, May 1st. Wells Fargo & Company dropped their price objective on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, JPMorgan Chase & Co. assumed coverage on shares of ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $286.18.

About ResMed

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.