ResMed Inc. (NYSE:RMD) is Tandem Investment Advisors Inc.’s 2nd Largest Position

Tandem Investment Advisors Inc. cut its stake in ResMed Inc. (NYSE:RMD) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 496,660 shares of the medical equipment provider’s stock after selling 4,731 shares during the period. ResMed comprises approximately 4.6% of Tandem Investment Advisors Inc.’s portfolio, making the stock its 2nd largest position. Tandem Investment Advisors Inc.’s holdings in ResMed were worth $121,245,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of ResMed in the 2nd quarter worth about $32,000. Versant Capital Management Inc lifted its position in ResMed by 196.7% in 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 last quarter. Financial Connections Group Inc. purchased a new stake in ResMed in the second quarter worth approximately $37,000. Blue Trust Inc. grew its position in ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 137 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of ResMed during the second quarter worth approximately $44,000. Institutional investors own 54.98% of the company’s stock.

Insider Activity

In related news, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction dated 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 directly owns 10,512 shares of the company’s stock, valued at $2,428,272. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, General Counsel Michael J. Rider sold 882 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 4,260 shares of ResMed stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the transaction, the insider now owns 21,788 shares of the company’s stock, valued at $5,196,002.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,260 shares of company stock worth $14,390,487. Corporate insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Bank of America raised their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Finally, Wolfe Research restated an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. One equities research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $225.70.

ResMed Price Performance

Shares of NYSE RMD opened at $248.42 on Friday. ResMed Inc. has a 1 year low of $140.81 and a 1 year high of $260.49. The stock has a market capitalization of $36.47 billion, a P/E ratio of 32.90, a P/E/G ratio of 1.78 and a beta of 0.69. The company’s 50-day moving average is $243.12 and its 200 day moving average is $221.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 EPS. On average, sell-side analysts expect that ResMed Inc. will post 9.22 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

About ResMed

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.