Bayforest Capital Ltd Sells 2,109 Shares of ResMed Inc. $RMD

Bayforest Capital Ltd lowered its position in ResMed Inc. (NYSE:RMD) by 85.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 350 shares of the medical equipment provider’s stock after selling 2,109 shares during the period. Bayforest Capital Ltd’s holdings in ResMed were worth $96,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in ResMed during the second quarter worth $306,452,000. Vanguard Group Inc. increased its position in shares of ResMed by 1.4% during 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 acquiring an additional 253,223 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new stake in shares of ResMed in the 2nd quarter worth about $39,306,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in ResMed in the 2nd quarter valued at about $34,443,000. Finally, Swedbank AB boosted its stake in ResMed by 25.4% during the 3rd quarter. Swedbank AB now owns 542,711 shares of the medical equipment provider’s stock valued at $148,556,000 after purchasing an additional 109,760 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Stifel Nicolaus lowered their price objective on ResMed from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Robert W. Baird reissued a “neutral” rating and issued a $275.00 price target (down from $300.00) on shares of ResMed in a research report on Tuesday, December 16th. Wells Fargo & Company started coverage on ResMed in a research note on Monday, October 13th. They set an “equal weight” rating and a $280.00 price objective on the stock. KeyCorp upped their target price on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Baird R W downgraded shares of ResMed from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $296.09.

Insider Activity

In other news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $115,837,766.58. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $248.83, for a total transaction of $497,660.00. Following the sale, the director owned 66,773 shares of the company’s stock, valued at approximately $16,615,125.59. This represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 21,594 shares of company stock valued at $5,403,495. Insiders own 0.65% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $259.70 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.13 and a current ratio of 2.89. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The firm has a market cap of $37.90 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 1.71 and a beta of 0.88. The business’s fifty day moving average is $249.09 and its 200 day moving average is $263.23.

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

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were issued a $0.60 dividend. The ex-dividend date was Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s payout ratio is currently 24.56%.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.