CW Advisors LLC Cuts Stock Holdings in ResMed Inc. $RMD

CW Advisors LLC lowered its position in shares of ResMed Inc. (NYSE:RMD) by 97.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,675 shares of the medical equipment provider’s stock after selling 53,595 shares during the quarter. CW Advisors LLC’s holdings in ResMed were worth $432,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in ResMed in the 2nd quarter valued at $306,452,000. Swedbank AB grew its holdings in shares of ResMed by 445.1% during the first quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider’s stock worth $88,940,000 after buying an additional 324,428 shares in the last quarter. Nuveen LLC acquired a new stake in shares of ResMed in the first quarter valued at about $69,492,000. Vanguard Group Inc. lifted its stake in shares of ResMed by 1.4% in the second quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock worth $4,836,707,000 after buying an additional 253,223 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of ResMed in the second quarter worth about $34,443,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ResMed

In related news, General Counsel Michael J. Rider sold 100 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the transaction, the general counsel owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the completion of the sale, the director owned 4,261 shares of the company’s stock, valued at $1,086,555. This trade represents a 32.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 22,662 shares of company stock worth $5,946,466. 0.65% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of recent research reports. Royal Bank Of Canada increased their price objective on shares of ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Citigroup initiated coverage on ResMed in a report on Thursday, September 18th. They issued a “buy” rating and a $330.00 price target for the company. Robert W. Baird reduced their price objective on ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Wells Fargo & Company assumed coverage on ResMed in a report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 target price for the company. Finally, Mizuho cut their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $297.45.

ResMed Trading Up 2.0%

Shares of ResMed stock opened at $251.37 on Thursday. The stock has a 50 day moving average of $258.10 and a 200 day moving average of $263.69. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.13 and a current ratio of 2.89. The firm has a market capitalization of $36.69 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 1.67 and a beta of 0.87. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.49 by $0.06. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 EPS. As a group, research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. ResMed’s dividend payout ratio is presently 24.56%.

ResMed Company Profile

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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.