ResMed Inc. $RMD Stock Position Lessened by Vestcor Inc

Vestcor Inc decreased its holdings in ResMed Inc. (NYSE:RMD) by 30.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,395 shares of the medical equipment provider’s stock after selling 4,571 shares during the quarter. Vestcor Inc’s holdings in ResMed were worth $2,504,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the company. Terra Nova Asset Management LLC boosted its stake in 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 buying an additional 46 shares in the last quarter. IMA Advisory Services Inc. boosted its stake in 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 buying an additional 48 shares in the last quarter. Occidental Asset Management LLC boosted its stake in 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 buying an additional 49 shares in the last quarter. Wedmont Private Capital boosted its stake in 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 buying an additional 57 shares in the last quarter. Finally, New Wave Wealth Advisors LLC boosted its stake in 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 buying an additional 57 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings cut ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Royal Bank Of Canada raised their target price on ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Robert W. Baird set a $225.00 target price on ResMed in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $286.18.

ResMed Trading Down 0.0%

NYSE:RMD opened at $195.95 on Monday. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81. The firm has a market capitalization of $28.42 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. The stock has a fifty day simple moving average of $213.11 and a 200 day simple moving average of $237.15.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company posted $2.37 EPS. ResMed’s revenue for the quarter was up 10.8% on a year-over-year basis. Sell-side analysts forecast that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be given a $0.60 dividend. The ex-dividend date is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. ResMed’s dividend payout ratio (DPR) is 23.14%.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $207.82, for a total value of $1,037,229.62. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at $96,890,463.86. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the 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 SEC filing for this sale provides additional information. Insiders sold a total of 11,982 shares of company stock valued at $2,612,700 in the last quarter. 0.65% of the stock is currently 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.