ResMed Inc. (NYSE:RMD) Stake Reduced by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,166 shares of the medical equipment provider’s stock after selling 5,942 shares during the period. ResMed makes up 1.0% of ST Germain D J Co. Inc.’s portfolio, making the stock its 24th biggest holding. ST Germain D J Co. Inc. owned 0.06% of ResMed worth $22,744,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in ResMed by 51.4% during 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 buying an additional 1,959,642 shares in the last quarter. Marshall Wace LLP purchased a new position in ResMed in the 2nd quarter worth about $77,285,000. Greenvale Capital LLP raised its holdings in ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after buying an additional 275,000 shares during the period. Los Angeles Capital Management LLC lifted its stake in ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after buying an additional 241,195 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of ResMed in the second quarter worth about $42,036,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RMD shares. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Bank of America increased their price objective on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Robert W. Baird started coverage on shares of ResMed in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $280.00 price target for the company. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

ResMed Stock Performance

RMD traded up $0.41 during trading on Friday, hitting $240.00. The stock had a trading volume of 766,425 shares, compared to its average volume of 1,032,461. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $255.18. The company has a 50 day simple moving average of $238.78 and a 200-day simple moving average of $215.88. The firm has a market cap of $35.22 billion, a PE ratio of 34.63, a P/E/G ratio of 2.17 and a beta of 0.69.

ResMed (NYSE:RMD) last announced 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 return on equity of 25.00% and a net margin of 21.79%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company earned $1.60 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts expect that ResMed Inc. will post 9.02 EPS for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is currently 30.59%.

Insider Buying and Selling

In related news, insider Kaushik Ghoshal sold 4,260 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the completion of the transaction, the insider now directly owns 21,788 shares in the company, valued at approximately $5,196,002.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ResMed news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the transaction, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kaushik Ghoshal sold 4,260 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the sale, the insider now directly owns 21,788 shares in the company, valued at approximately $5,196,002.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,874 shares of company stock valued at $28,151,142 over the last three months. 0.71% of the stock is owned by corporate insiders.

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.