ResMed Inc. (NYSE:RMD) Shares Sold by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,918 shares of the medical equipment provider’s stock after selling 68 shares during the quarter. Ascent Wealth Partners LLC’s holdings in ResMed were worth $3,154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in ResMed by 1.9% during the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock worth $602,000 after buying an additional 47 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of ResMed by 3.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock worth $292,000 after purchasing an additional 52 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of ResMed by 4.5% during the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after purchasing an additional 56 shares in the last quarter. Inspire Advisors LLC raised its stake in ResMed by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock valued at $586,000 after purchasing an additional 56 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in ResMed by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.6 %

NYSE:RMD traded down $1.58 on Thursday, reaching $244.05. The company’s stock had a trading volume of 15,685 shares, compared to its average volume of 1,047,843. ResMed Inc. has a 12-month low of $140.81 and a 12-month high of $260.49. The stock has a 50 day moving average price of $243.12 and a 200 day moving average price of $221.39. The firm has a market cap of $35.83 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.69. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $1.64 EPS. On average, equities analysts anticipate that ResMed Inc. will post 9.22 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. ResMed’s dividend payout ratio is currently 28.08%.

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 4,260 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the sale, the insider now owns 21,788 shares in the company, valued at approximately $5,196,002.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the completion of the transaction, the chief executive officer now owns 464,169 shares in the company, valued at $115,290,296.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 4,260 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the sale, the insider now directly owns 21,788 shares in the company, valued at $5,196,002.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,260 shares of company stock worth $14,390,487. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. KeyCorp upped their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. Finally, Wolfe Research reiterated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.70.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.