ResMed Inc. (NYSE:RMD) Shares Sold by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc lowered its position in ResMed Inc. (NYSE:RMD) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,422 shares of the medical equipment provider’s stock after selling 500 shares during the period. Fragasso Financial Advisors Inc’s holdings in ResMed were worth $1,926,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RMD. Private Advisor Group LLC grew its holdings in ResMed by 15.1% during the 2nd quarter. Private Advisor Group LLC now owns 3,071 shares of the medical equipment provider’s stock valued at $588,000 after buying an additional 402 shares during the last quarter. Acadian Asset Management LLC grew its holdings in ResMed by 471.6% during the 2nd quarter. Acadian Asset Management LLC now owns 3,681 shares of the medical equipment provider’s stock valued at $704,000 after buying an additional 3,037 shares during the last quarter. Quest Partners LLC lifted its stake in shares of ResMed by 44.1% during the 2nd quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 100 shares during the period. American Century Companies Inc. lifted its stake in shares of ResMed by 17.7% during the 2nd quarter. American Century Companies Inc. now owns 30,874 shares of the medical equipment provider’s stock worth $5,910,000 after purchasing an additional 4,639 shares during the period. Finally, Meeder Advisory Services Inc. lifted its stake in shares of ResMed by 103.9% during the 2nd quarter. Meeder Advisory Services Inc. now owns 2,141 shares of the medical equipment provider’s stock worth $410,000 after purchasing an additional 1,091 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Down 1.8 %

Shares of ResMed stock traded down $4.20 during trading hours on Monday, hitting $229.62. 239,339 shares of the company’s stock traded hands, compared to its average volume of 688,504. The stock has a 50 day simple moving average of $239.84 and a 200-day simple moving average of $231.52. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a market cap of $33.71 billion, a PE ratio of 30.41, a PEG ratio of 1.73 and a beta of 0.70. ResMed Inc. has a twelve month low of $168.29 and a twelve month high of $260.49.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The business 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 revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.64 earnings per share. Equities research analysts anticipate that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were issued a $0.53 dividend. The ex-dividend date was Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.92%. ResMed’s dividend payout ratio is currently 28.08%.

Analysts Set New Price Targets

A number of brokerages have weighed in on RMD. Stifel Nicolaus began coverage on ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price target on the stock. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Wolfe Research reissued an “underperform” rating and set a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. Bank of America increased their target price on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, KeyCorp increased their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ResMed presently has a consensus rating of “Hold” and a consensus price target of $233.09.

Insiders Place Their Bets

In related news, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the sale, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the sale, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock valued at $2,719,385 over the last quarter. Insiders own 0.71% of the company’s stock.

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.