Rhumbline Advisers Lowers Stock Position in ResMed Inc. (NYSE:RMD)

Rhumbline Advisers lowered its position in ResMed Inc. (NYSE:RMD) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 295,135 shares of the medical equipment provider’s stock after selling 13,536 shares during the period. Rhumbline Advisers’ holdings in ResMed were worth $67,494,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AustralianSuper Pty Ltd raised its holdings in shares of ResMed by 3,266.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 103,923 shares of the medical equipment provider’s stock valued at $23,766,000 after purchasing an additional 100,836 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of ResMed by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 131,971 shares of the medical equipment provider’s stock valued at $30,180,000 after purchasing an additional 1,046 shares during the last quarter. Banque Pictet & Cie SA purchased a new stake in shares of ResMed in the fourth quarter valued at about $4,219,000. Asset Management One Co. Ltd. raised its holdings in shares of ResMed by 2.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock valued at $14,105,000 after purchasing an additional 1,629 shares during the last quarter. Finally, Avestar Capital LLC increased its holdings in ResMed by 7.6% during the fourth quarter. Avestar Capital LLC now owns 1,189 shares of the medical equipment provider’s stock worth $272,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of research analyst reports. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Royal Bank of Canada raised their price objective 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. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, The Goldman Sachs Group initiated coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.73.

ResMed Price Performance

RMD stock opened at $232.93 on Monday. The firm has a 50 day moving average of $238.51 and a 200-day moving average of $238.68. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05. The firm has a market capitalization of $34.21 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, sell-side analysts predict that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

Insider Activity

In related news, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,307 shares of company stock worth $4,403,180. 0.71% of the stock is owned by company insiders.

ResMed Profile

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.