ResMed Inc. (NYSE:RMD) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC cut its holdings in shares of ResMed Inc. (NYSE:RMDGet Rating) by 25.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,528 shares of the medical equipment provider’s stock after selling 1,890 shares during the period. O Shaughnessy Asset Management LLC’s holdings in ResMed were worth $1,159,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Parallel Advisors LLC lifted its stake in ResMed by 2.3% during the second quarter. Parallel Advisors LLC now owns 1,949 shares of the medical equipment provider’s stock valued at $409,000 after purchasing an additional 43 shares during the last quarter. WoodTrust Financial Corp lifted its stake in ResMed by 0.9% during the second quarter. WoodTrust Financial Corp now owns 4,885 shares of the medical equipment provider’s stock valued at $1,024,000 after purchasing an additional 45 shares during the last quarter. River Wealth Advisors LLC raised its holdings in shares of ResMed by 2.5% during the first quarter. River Wealth Advisors LLC now owns 2,288 shares of the medical equipment provider’s stock valued at $555,000 after acquiring an additional 55 shares during the period. Trust Asset Management LLC raised its holdings in shares of ResMed by 3.7% during the second quarter. Trust Asset Management LLC now owns 1,526 shares of the medical equipment provider’s stock valued at $320,000 after acquiring an additional 55 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of ResMed by 15.2% during the second quarter. Allworth Financial LP now owns 440 shares of the medical equipment provider’s stock valued at $92,000 after acquiring an additional 58 shares during the period. 65.50% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Down 0.1 %

ResMed stock opened at $229.34 on Friday. The firm has a market cap of $33.59 billion, a PE ratio of 42.87, a P/E/G ratio of 1.48 and a beta of 0.47. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.69 and a current ratio of 2.94. The firm’s 50 day moving average price is $220.57 and its two-hundred day moving average price is $219.02. ResMed Inc. has a twelve month low of $189.40 and a twelve month high of $268.77.

ResMed (NYSE:RMDGet Rating) last posted its earnings results on Thursday, October 27th. The medical equipment provider reported $1.51 EPS for the quarter, hitting the consensus estimate of $1.51. The company had revenue of $950.30 million during the quarter, compared to the consensus estimate of $946.07 million. ResMed had a net margin of 21.70% and a return on equity of 25.75%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.51 earnings per share. On average, research analysts predict that ResMed Inc. will post 6.48 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, November 10th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Wednesday, November 9th. ResMed’s dividend payout ratio is 32.90%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RMD. KeyCorp boosted their price target on shares of ResMed from $276.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, October 28th. Bank of America upgraded shares of ResMed from a “neutral” rating to a “buy” rating and boosted their price target for the company from $245.00 to $260.00 in a report on Thursday, October 20th. JPMorgan Chase & Co. lowered shares of ResMed from an “overweight” rating to a “neutral” rating in a report on Friday, August 12th. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Finally, Jefferies Financial Group began coverage on shares of ResMed in a report on Wednesday, October 12th. They set a “hold” rating and a $245.00 price target on the stock. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $267.00.

Insiders Place Their Bets

In other ResMed news, insider Justin Leong sold 3,777 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $229.50, for a total value of $866,821.50. Following the completion of the sale, the insider now directly owns 59,817 shares of the company’s stock, valued at $13,728,001.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Brett Sandercock sold 4,000 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $212.02, for a total transaction of $848,080.00. Following the completion of the sale, the chief financial officer now directly owns 106,303 shares of the company’s stock, valued at approximately $22,538,362.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Justin Leong sold 3,777 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $229.50, for a total transaction of $866,821.50. Following the sale, the insider now directly owns 59,817 shares of the company’s stock, valued at $13,728,001.50. The disclosure for this sale can be found here. Insiders sold 75,815 shares of company stock valued at $16,853,023 over the last ninety days. Corporate insiders own 1.39% of the company’s stock.

About ResMed

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ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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