KPP Advisory Services LLC Trims Stake in ResMed Inc. (NYSE:RMD)

KPP Advisory Services LLC lessened its position in shares of ResMed Inc. (NYSE:RMD) by 17.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,071 shares of the medical equipment provider’s stock after selling 225 shares during the quarter. KPP Advisory Services LLC’s holdings in ResMed were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in ResMed during the 3rd quarter worth $34,000. Rosenberg Matthew Hamilton purchased a new position in ResMed during the 4th quarter worth $54,000. Capital Performance Advisors LLP acquired a new position in ResMed in the third quarter valued at $60,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of ResMed by 55.7% during the third quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock worth $83,000 after buying an additional 122 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday. The Goldman Sachs Group started coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday. Robert W. Baird boosted their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, KeyCorp raised their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $244.73.

ResMed Trading Up 2.1 %

Shares of ResMed stock opened at $241.15 on Tuesday. The company has a 50-day moving average of $240.17 and a two-hundred day moving average of $236.63. The stock has a market cap of $35.40 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. 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.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, research analysts anticipate that ResMed Inc. will post 9.41 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the completion of the sale, the director now directly owns 83,204 shares in the company, valued at $20,696,162.96. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,030 shares of company stock valued at $2,702,687. Insiders own 0.71% of the company’s stock.

ResMed Company 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.