CIBC Private Wealth Group LLC Sells 214,727 Shares of ResMed Inc. (NYSE:RMD)

CIBC Private Wealth Group LLC decreased its position in ResMed Inc. (NYSE:RMDFree Report) by 92.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,749 shares of the medical equipment provider’s stock after selling 214,727 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in ResMed were worth $3,053,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. MV Capital Management Inc. raised its position in shares of ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of ResMed by 7.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock valued at $155,000 after purchasing an additional 64 shares during the period. Czech National Bank increased its position in ResMed by 0.3% during the fourth quarter. Czech National Bank now owns 25,762 shares of the medical equipment provider’s stock worth $4,432,000 after acquiring an additional 81 shares during the period. Alliance Wealth Advisors LLC UT increased its position in 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 worth $270,000 after acquiring an additional 88 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its position in ResMed by 1.6% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,490 shares of the medical equipment provider’s stock worth $1,116,000 after acquiring an additional 105 shares during the period. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RMD. KeyCorp boosted their target price on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Royal Bank of Canada boosted their target price on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. Oppenheimer dropped their target price on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Mizuho reaffirmed a “buy” rating and set a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Finally, Needham & Company LLC boosted their price target on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $202.80.

View Our Latest Report on RMD

ResMed Stock Down 0.3 %

Shares of NYSE:RMD opened at $210.91 on Friday. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $229.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The company’s fifty day moving average is $203.24 and its 200-day moving average is $186.42. The company has a market capitalization of $30.98 billion, a PE ratio of 32.40, a P/E/G ratio of 2.08 and a beta of 0.68.

ResMed (NYSE:RMDGet Free Report) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company earned $1.68 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts predict that ResMed Inc. will post 7.7 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be paid a $0.48 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 0.91%. ResMed’s dividend payout ratio is presently 29.49%.

Insider Activity

In related news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the transaction, the director now owns 8,446 shares in the company, valued at approximately $1,815,214.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the transaction, the director now owns 8,446 shares in the company, valued at approximately $1,815,214.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the transaction, the chief executive officer now owns 440,752 shares in the company, valued at approximately $95,422,808. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,468 shares of company stock worth $3,348,795. Corporate insiders own 1.21% of the company’s stock.

About ResMed

(Free Report)

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.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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