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

Signaturefd LLC reduced its position in shares of ResMed Inc. (NYSE:RMD) by 8.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,139 shares of the medical equipment provider’s stock after selling 366 shares during the period. Signaturefd LLC’s holdings in ResMed were worth $792,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of ResMed by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock worth $3,052,229,000 after purchasing an additional 173,635 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after acquiring an additional 1,959,642 shares during the last quarter. Norges Bank acquired a new stake in shares of ResMed in the fourth quarter worth approximately $233,966,000. Charles Schwab Investment Management Inc. lifted its position in ResMed by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 863,289 shares of the medical equipment provider’s stock valued at $148,503,000 after buying an additional 46,113 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in ResMed by 15.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock valued at $120,225,000 after buying an additional 95,689 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on RMD shares. Needham & Company LLC reaffirmed a “buy” rating and set a $236.00 price target on shares of ResMed in a research report on Friday, August 2nd. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada lifted their price target on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Finally, KeyCorp lifted their price objective on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $204.70.

ResMed Stock Up 0.8 %

Shares of NYSE:RMD opened at $245.02 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $210.08 and a 200 day simple moving average of $202.21. The firm has a market cap of $36.00 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 2.31 and a beta of 0.66. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $246.80.

ResMed (NYSE:RMD) last released its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that ResMed Inc. will post 8.72 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.53 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, August 15th. This represents a $2.12 annualized dividend and a yield of 0.87%. ResMed’s payout ratio is presently 32.57%.

Insider Buying and Selling at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the sale, the general counsel now owns 10,512 shares in the company, valued at $2,428,272. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the transaction, the general counsel now owns 10,512 shares of the company’s stock, valued at $2,428,272. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $211.66, for a total transaction of $3,107,803.78. Following the transaction, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at approximately $93,299,516.34. The disclosure for this sale can be found here. Insiders sold a total of 95,931 shares of company stock worth $20,326,437 over the last 90 days. Insiders own 1.21% 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. 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.