ResMed Inc. $RMD Shares Sold by ABN Amro Investment Solutions

ABN Amro Investment Solutions lessened its holdings in ResMed Inc. (NYSE:RMD) by 81.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,257 shares of the medical equipment provider’s stock after selling 5,427 shares during the quarter. ABN Amro Investment Solutions’ holdings in ResMed were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. SJS Investment Consulting Inc. boosted its stake in shares of ResMed by 1,433.3% in the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 86 shares in the last quarter. WFA of San Diego LLC purchased a new position in ResMed in the second quarter worth $26,000. Westside Investment Management Inc. lifted its holdings in ResMed by 100.0% in the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 66 shares during the period. GoalVest Advisory LLC purchased a new stake in shares of ResMed during the 3rd quarter worth $37,000. Finally, IMA Advisory Services Inc. boosted its position in shares of ResMed by 52.7% during the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

ResMed stock opened at $252.47 on Tuesday. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The company has a market capitalization of $36.78 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.68 and a beta of 0.87. The stock has a fifty day moving average of $252.61 and a two-hundred day moving average of $262.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.43 earnings per share. On average, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is currently 23.74%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RMD shares. Morgan Stanley set a $305.00 price target on shares of ResMed in a report on Friday, October 31st. Wall Street Zen upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. KeyCorp reiterated an “overweight” rating and set a $302.00 price target on shares of ResMed in a research report on Friday, January 30th. Mizuho decreased their price target on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Finally, Weiss Ratings upgraded ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus target price of $299.27.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the sale, the chief executive officer owned 466,223 shares in the company, valued at approximately $127,642,532.94. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the transaction, the director directly owned 64,773 shares in the company, valued at approximately $16,278,102.63. This represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 18,137 shares of company stock worth $4,658,832 over the last ninety days. 0.65% of the stock is currently owned by corporate insiders.

ResMed Company Profile

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.