Van ECK Associates Corp Trims Position in ResMed Inc. (NYSE:RMD)

Van ECK Associates Corp decreased its holdings in ResMed Inc. (NYSE:RMD) by 18.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,849 shares of the medical equipment provider’s stock after selling 5,713 shares during the quarter. Van ECK Associates Corp’s holdings in ResMed were worth $4,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. MV Capital Management Inc. raised its position in shares of ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares during the last quarter. Great Lakes Advisors LLC raised its holdings in ResMed by 2.6% in the third quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock worth $391,000 after buying an additional 68 shares during the last quarter. Harfst & Associates Inc. lifted its stake in shares of ResMed by 0.7% in the third quarter. Harfst & Associates Inc. now owns 10,995 shares of the medical equipment provider’s stock worth $1,626,000 after buying an additional 73 shares in the last quarter. Czech National Bank grew its holdings in shares of ResMed by 0.3% during the fourth quarter. Czech National Bank now owns 25,762 shares of the medical equipment provider’s stock valued at $4,432,000 after buying an additional 81 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT increased its position in shares of ResMed by 5.9% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 1,567 shares of the medical equipment provider’s stock valued at $270,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RMD shares. KeyCorp upped their price objective on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Mizuho reaffirmed a “buy” rating and set a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Oppenheimer decreased their target price on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. JPMorgan Chase & Co. raised their price target on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Finally, Royal Bank of Canada boosted their price objective on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $202.80.

Insider Transactions at ResMed

In other news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The disclosure for this sale can be found here. Insiders have sold 11,641 shares of company stock valued at $2,137,958 over the last quarter. 1.21% of the stock is currently owned by company insiders.

ResMed Price Performance

Shares of NYSE:RMD opened at $216.98 on Monday. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $31.88 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The firm’s 50 day moving average price is $190.52 and its 200-day moving average price is $174.99. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $237.26.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.68 earnings per share. Equities research analysts expect that ResMed Inc. will post 7.59 EPS for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s payout ratio is 29.49%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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.