ResMed Inc. $RMD Shares Sold by Blair William & Co. IL

Blair William & Co. IL trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 223,843 shares of the medical equipment provider’s stock after selling 12,441 shares during the quarter. Blair William & Co. IL owned approximately 0.15% of ResMed worth $61,273,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RMD. Vanguard Group Inc. raised its stake in shares of ResMed by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock worth $5,211,940,000 after buying an additional 293,515 shares during the last quarter. State Street Corp boosted its position in shares of ResMed by 1.0% in the 2nd quarter. State Street Corp now owns 6,615,852 shares of the medical equipment provider’s stock worth $1,706,890,000 after buying an additional 64,448 shares in the last quarter. Geode Capital Management LLC grew its stake in ResMed by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock valued at $1,083,409,000 after acquiring an additional 98,717 shares during the last quarter. Norges Bank purchased a new position in ResMed during the 2nd quarter valued at about $306,452,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in ResMed by 2.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,021,001 shares of the medical equipment provider’s stock valued at $263,418,000 after acquiring an additional 22,873 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $252.95 on Friday. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The firm has a market cap of $36.85 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 1.68 and a beta of 0.88. The company’s 50-day moving average is $255.22 and its two-hundred day moving average is $260.03. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.43 earnings per share. Research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s payout ratio is presently 23.74%.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total transaction of $520,440.00. Following the sale, the director owned 62,773 shares in the company, valued at $16,334,790.06. This trade represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction on Monday, February 9th. The shares were sold at an average price of $273.78, for a total value of $1,366,435.98. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. This represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,082 shares of company stock valued at $4,152,307 over the last ninety days. 0.65% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RMD. KeyCorp restated an “overweight” rating and set a $302.00 target price on shares of ResMed in a research report on Friday, January 30th. Stifel Nicolaus raised their price objective on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Robert W. Baird set a $281.00 price objective on ResMed in a research report on Friday, January 30th. Piper Sandler upped their target price on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Finally, Citigroup increased their target price on ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $299.27.

ResMed 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.