ResMed Inc. (NYSE:RMD) Shares Sold by Empirical Finance LLC

Empirical Finance LLC decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,910 shares of the medical equipment provider’s stock after selling 322 shares during the period. Empirical Finance LLC’s holdings in ResMed were worth $940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in ResMed by 2.0% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,235 shares of the medical equipment provider’s stock worth $2,916,000 after buying an additional 305 shares in the last quarter. iA Global Asset Management Inc. lifted its position in shares of ResMed by 68.1% during the 2nd quarter. iA Global Asset Management Inc. now owns 25,931 shares of the medical equipment provider’s stock valued at $4,964,000 after acquiring an additional 10,503 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of ResMed by 29.3% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 22,323 shares of the medical equipment provider’s stock worth $4,273,000 after acquiring an additional 5,061 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of ResMed by 6.3% in the 2nd quarter. UMB Bank n.a. now owns 2,418 shares of the medical equipment provider’s stock worth $463,000 after acquiring an additional 143 shares during the last quarter. Finally, Tobam raised its position in shares of ResMed by 373.6% during the second quarter. Tobam now owns 4,651 shares of the medical equipment provider’s stock worth $890,000 after purchasing an additional 3,669 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $211.66, for a total transaction of $3,107,803.78. Following the transaction, the chief executive officer now owns 440,799 shares in the company, valued at approximately $93,299,516.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $211.66, for a total value of $3,107,803.78. Following the completion of the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at $93,299,516.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $194.35, for a total transaction of $194,350.00. Following the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at $17,502,383.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,931 shares of company stock valued at $20,326,437. 1.21% of the stock is currently owned by corporate insiders.

ResMed Trading Up 0.8 %

Shares of NYSE:RMD opened at $245.02 on Friday. The firm has a fifty day moving average of $210.08 and a two-hundred day moving average of $202.21. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $246.80. The firm has a market capitalization of $36.00 billion, a P/E ratio of 37.64, a price-to-earnings-growth ratio of 2.44 and a beta of 0.66.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the firm earned $1.60 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts expect that ResMed Inc. will post 8.91 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. This is an increase from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is currently 32.57%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RMD shares. StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $236.00 target price on shares of ResMed in a report on Friday, August 2nd. Royal Bank of Canada lifted their target price on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Finally, KeyCorp lifted their price objective on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.70.

ResMed 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.