ResMed Inc. (NYSE:RMD) Shares Sold by Pineridge Advisors LLC

Pineridge Advisors LLC trimmed its stake in ResMed Inc. (NYSE:RMD) by 38.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 626 shares of the medical equipment provider’s stock after selling 384 shares during the quarter. Pineridge Advisors LLC’s holdings in ResMed were worth $143,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC increased its stake in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of ResMed in the third quarter worth approximately $34,000. Rosenberg Matthew Hamilton acquired a new stake in shares of ResMed during the fourth quarter valued at approximately $54,000. Capital Performance Advisors LLP purchased a new stake in shares of ResMed in the 3rd quarter valued at approximately $60,000. Finally, Venturi Wealth Management LLC boosted its stake in ResMed by 55.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock worth $83,000 after purchasing an additional 122 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RMD has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Stifel Nicolaus initiated coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. Royal Bank of Canada lifted their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. One 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 assigned a strong buy rating to the company. According to data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

ResMed Trading Up 0.7 %

Shares of NYSE:RMD opened at $238.56 on Tuesday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $35.04 billion, a PE ratio of 28.17, a P/E/G ratio of 1.57 and a beta of 0.70. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05. The firm has a fifty day moving average price of $239.18 and a 200 day moving average price of $237.81.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 9.44 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. 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 0.89%. ResMed’s payout ratio is currently 25.03%.

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,298 shares of company stock worth $2,506,889 over the last 90 days. Insiders own 0.71% of the company’s stock.

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.