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

SlateStone Wealth LLC lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,178 shares of the medical equipment provider’s stock after selling 910 shares during the quarter. SlateStone Wealth LLC’s holdings in ResMed were worth $1,407,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of RMD. EverSource Wealth Advisors LLC lifted its holdings in shares of ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Riverview Trust Co lifted its holdings in shares of ResMed by 255.9% in the 3rd quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 151 shares during the last quarter. Operose Advisors LLC bought a new stake in shares of ResMed in the 3rd quarter worth approximately $32,000. Planned Solutions Inc. bought a new stake in shares of ResMed in the 4th quarter worth approximately $34,000. Finally, MV Capital Management Inc. lifted its holdings in shares of ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD stock traded up $4.18 during mid-day trading on Tuesday, hitting $184.53. 570,839 shares of the stock traded hands, compared to its average volume of 1,006,160. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $243.52. The firm has a market cap of $27.14 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.19 and a beta of 0.67. The company’s 50-day simple moving average is $186.14 and its 200-day simple moving average is $171.04. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned $1.66 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities research analysts expect that ResMed Inc. will post 7.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is presently 31.74%.

Wall Street Analysts Forecast Growth

RMD has been the topic of several recent research reports. Royal Bank of Canada raised their price target on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a report on Thursday, January 25th. KeyCorp began coverage on ResMed in a report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price target on the stock. Needham & Company LLC raised their target price on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, April 1st. UBS Group raised their target price on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. raised their target price on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $199.20.

Insider Activity

In other news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,216 shares of company stock worth $2,046,617. 1.21% of the stock is owned by company insiders.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.