Bahl & Gaynor Inc. Cuts Stock Holdings in ResMed Inc. (NYSE:RMD)

Bahl & Gaynor Inc. lessened its position in ResMed Inc. (NYSE:RMD) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,024 shares of the medical equipment provider’s stock after selling 651 shares during the quarter. Bahl & Gaynor Inc.’s holdings in ResMed were worth $8,322,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC acquired a new stake in ResMed during the 4th quarter worth $27,000. Hall Laurie J Trustee acquired a new stake in ResMed in the 1st quarter valued at about $32,000. Planned Solutions Inc. purchased a new position in ResMed in the 4th quarter worth approximately $34,000. BOK Financial Private Wealth Inc. acquired a new position in shares of ResMed during the 1st quarter worth approximately $35,000. Finally, MV Capital Management Inc. grew its position in shares of ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on RMD. KeyCorp boosted their price objective on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Needham & Company LLC reissued a “buy” rating and issued a $236.00 price objective on shares of ResMed in a report on Monday, June 24th. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Royal Bank of Canada raised their price target on shares of ResMed from $200.00 to $204.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, Mizuho reaffirmed a “buy” rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.20.

Insider Activity

In related news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the sale, the director now directly owns 8,446 shares of the company’s stock, valued at approximately $1,815,214.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Karen Drexler sold 425 shares of ResMed stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total value of $3,178,869.50. Following the transaction, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at $95,422,808. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,834 shares of company stock valued at $9,694,137. 1.21% of the stock is currently owned by company insiders.

ResMed Trading Up 0.9 %

NYSE RMD traded up $1.81 on Tuesday, reaching $209.09. The stock had a trading volume of 172,667 shares, compared to its average volume of 1,040,806. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $205.21 and a two-hundred day moving average price of $194.34. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $229.97. The firm has a market capitalization of $30.72 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 1.75 and a beta of 0.66.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the business earned $1.68 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that ResMed Inc. will post 7.7 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 0.92%. ResMed’s dividend payout ratio is presently 29.49%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.