NorthRock Partners LLC Decreases Position in ResMed Inc. (NYSE:RMD)

NorthRock Partners LLC lowered its position in ResMed Inc. (NYSE:RMD) by 58.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,301 shares of the medical equipment provider’s stock after selling 1,820 shares during the quarter. NorthRock Partners LLC’s holdings in ResMed were worth $318,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in ResMed by 24.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after buying an additional 35,273 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of ResMed by 8.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 171,632 shares of the medical equipment provider’s stock valued at $37,586,000 after acquiring an additional 13,894 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of ResMed by 211.1% during the first quarter. SG Americas Securities LLC now owns 19,625 shares of the medical equipment provider’s stock valued at $3,886,000 after acquiring an additional 13,316 shares during the last quarter. iA Global Asset Management Inc. purchased a new stake in ResMed during the 1st quarter worth about $3,055,000. Finally, Versor Investments LP raised its stake in ResMed by 327.3% in the 2nd quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock valued at $900,000 after purchasing an additional 3,600 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the completion of the sale, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at approximately $115,290,296.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $246.42, for a total transaction of $246,420.00. Following the sale, the chief financial officer now directly owns 96,812 shares in the company, valued at approximately $23,856,413.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $248.38, for a total value of $3,646,963.54. Following the completion of the transaction, the chief executive officer now owns 464,169 shares of the company’s stock, valued at approximately $115,290,296.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,260 shares of company stock valued at $14,390,487 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

ResMed Trading Down 0.0 %

Shares of RMD opened at $245.63 on Thursday. ResMed Inc. has a twelve month low of $140.81 and a twelve month high of $260.49. The firm has a market capitalization of $36.06 billion, a P/E ratio of 32.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.69. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $243.12 and its 200 day simple moving average is $221.39.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 EPS. On average, equities research analysts forecast that ResMed Inc. will post 9.22 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s payout ratio is currently 28.08%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. Robert W. Baird raised their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Bank of America increased their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, KeyCorp lifted their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $225.70.

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.