W.G. Shaheen & Associates DBA Whitney & Co Sells 6,463 Shares of ResMed Inc. (NYSE:RMD)

W.G. Shaheen & Associates DBA Whitney & Co decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 11.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 50,992 shares of the medical equipment provider’s stock after selling 6,463 shares during the period. ResMed accounts for 1.2% of W.G. Shaheen & Associates DBA Whitney & Co’s portfolio, making the stock its 28th largest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in ResMed were worth $11,661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in ResMed by 24,311.9% in the 3rd quarter. International Assets Investment Management LLC now owns 26,609 shares of the medical equipment provider’s stock valued at $6,496,000 after buying an additional 26,500 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of ResMed by 46.0% during the third quarter. Assenagon Asset Management S.A. now owns 48,931 shares of the medical equipment provider’s stock valued at $11,945,000 after acquiring an additional 15,424 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in ResMed by 31.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,254 shares of the medical equipment provider’s stock worth $2,212,000 after purchasing an additional 2,212 shares in the last quarter. Forsta AP Fonden increased its holdings in ResMed by 111.6% during the 3rd quarter. Forsta AP Fonden now owns 56,700 shares of the medical equipment provider’s stock worth $13,842,000 after purchasing an additional 29,900 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in ResMed by 35.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,271 shares of the medical equipment provider’s stock valued at $1,775,000 after purchasing an additional 1,893 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction 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 transaction, the director now owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,147 shares of company stock valued at $2,905,745 in the last 90 days. 0.71% of the stock is owned by insiders.

ResMed Price Performance

Shares of NYSE RMD opened at $231.61 on Monday. The stock has a market capitalization of $34.02 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm’s 50 day simple moving average is $237.43 and its 200-day simple moving average is $239.41. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.92%. ResMed’s payout ratio is currently 25.03%.

Analyst Upgrades and Downgrades

RMD has been the subject of several recent research reports. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. Stifel Nicolaus assumed coverage on ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, KeyCorp raised their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $244.73.

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.