Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 18,989 Shares of ResMed Inc. $RMD

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 76.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,716 shares of the medical equipment provider’s stock after selling 18,989 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in ResMed were worth $1,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. SJS Investment Consulting Inc. lifted its holdings in 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 acquiring an additional 86 shares during the period. WFA of San Diego LLC bought a new position in shares of ResMed in the 2nd quarter worth approximately $26,000. Westside Investment Management Inc. boosted its holdings in shares of ResMed by 100.0% in the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 66 shares during the last quarter. GoalVest Advisory LLC purchased a new position in shares of ResMed in the third quarter worth approximately $37,000. Finally, IMA Advisory Services Inc. grew its position in ResMed by 52.7% during the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 48 shares during the period. Institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total value of $502,620.00. Following the sale, the director owned 64,773 shares in the company, valued at $16,278,102.63. The trade was a 3.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $115,837,766.58. The trade was a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 18,137 shares of company stock valued at $4,658,832. 0.65% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RMD shares. Morgan Stanley set a $305.00 price target on shares of ResMed in a research report on Friday, October 31st. Royal Bank Of Canada raised their target price on ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Robert W. Baird set a $281.00 target price on ResMed in a research report on Friday, January 30th. UBS Group restated a “buy” rating and issued a $345.00 price target on shares of ResMed in a research report on Friday, December 12th. Finally, Weiss Ratings raised ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. One equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $299.27.

ResMed Price Performance

Shares of ResMed stock opened at $258.99 on Monday. The company has a market capitalization of $37.73 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 1.72 and a beta of 0.87. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $253.16 and its 200-day simple moving average is $261.86. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last issued its earnings results 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. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $2.43 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s dividend payout ratio (DPR) is presently 23.74%.

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.