ResMed Inc. (NYSE:RMD) Stake Reduced by Woodstock Corp

Woodstock Corp cut its holdings in ResMed Inc. (NYSE:RMD) by 16.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,180 shares of the medical equipment provider’s stock after selling 225 shares during the quarter. Woodstock Corp’s holdings in ResMed were worth $288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RMD. OFI Invest Asset Management bought a new stake in ResMed in the second quarter worth about $32,000. BOK Financial Private Wealth Inc. acquired a new stake in ResMed during the 1st quarter worth about $35,000. Versant Capital Management Inc raised its holdings in ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 120 shares during the period. Financial Connections Group Inc. acquired a new stake in ResMed during the 2nd quarter worth about $37,000. Finally, Riverview Trust Co acquired a new stake in ResMed during the 1st quarter worth about $42,000. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Royal Bank of Canada boosted their price objective on ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 1st. Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.18.

ResMed Trading Up 1.1 %

Shares of NYSE RMD opened at $240.51 on Monday. The stock has a market cap of $35.33 billion, a price-to-earnings ratio of 36.94, a PEG ratio of 2.14 and a beta of 0.69. The business has a 50 day simple moving average of $236.35 and a 200 day simple moving average of $214.61. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $255.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 EPS. On average, research analysts predict that ResMed Inc. will post 9.02 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were paid a $0.53 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. ResMed’s payout ratio is presently 32.57%.

Insider Activity at ResMed

In related news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $212.16, for a total value of $212,160.00. Following the completion of the sale, the chief financial officer now owns 89,056 shares of the company’s stock, valued at approximately $18,894,120.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $212.16, for a total transaction of $212,160.00. Following the completion of the sale, the chief financial officer now owns 89,056 shares of the company’s stock, valued at $18,894,120.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,614 shares of company stock valued at $27,135,217. 1.21% of the stock is owned by corporate 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.