Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 2,674 Shares of ResMed Inc. $RMD

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its holdings in ResMed Inc. (NYSE:RMD) by 46.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,042 shares of the medical equipment provider’s stock after selling 2,674 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in ResMed were worth $733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in RMD. Terra Nova Asset Management LLC increased its holdings in ResMed by 0.6% in the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after purchasing an additional 46 shares in the last quarter. NBT Bank N A NY lifted its stake in ResMed by 22.9% in the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock valued at $69,000 after buying an additional 47 shares during the period. OFI Invest Asset Management boosted its holdings in shares of ResMed by 10.4% during the 3rd quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock worth $139,000 after buying an additional 48 shares in the last quarter. IMA Advisory Services Inc. boosted its holdings 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 buying an additional 48 shares in the last quarter. Finally, Occidental Asset Management LLC grew its position in shares of ResMed by 3.0% during the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after buying an additional 49 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

RMD opened at $224.23 on Friday. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The company has a market capitalization of $32.67 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.49 and a beta of 0.93. The firm’s fifty day moving average price is $246.52 and its two-hundred day moving average price is $253.28.

ResMed (NYSE:RMD) last announced its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted $2.43 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th were paid a $0.60 dividend. The ex-dividend date was Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 1.1%. ResMed’s dividend payout ratio (DPR) is 23.74%.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. 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 the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $127,642,532.94. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 23,023 shares of company stock worth $5,843,111. Insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Wells Fargo & Company raised their price target on shares of ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Stifel Nicolaus upped their price objective on shares of ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a report on Friday, January 30th. Finally, UBS Group reissued a “buy” rating and set a $345.00 price objective on shares of ResMed in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.