ResMed Inc. (NYSE:RMD) Shares Sold by Avalon Trust Co

Avalon Trust Co lessened its holdings in ResMed Inc. (NYSE:RMD) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,100 shares of the medical equipment provider’s stock after selling 465 shares during the period. ResMed accounts for approximately 1.5% of Avalon Trust Co’s portfolio, making the stock its 17th largest holding. Avalon Trust Co owned approximately 0.06% of ResMed worth $21,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. lifted its holdings in shares of ResMed by 285.1% in the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after purchasing an additional 439 shares in the last quarter. Peak Financial Advisors LLC purchased a new stake in shares of ResMed in the fourth quarter valued at about $2,972,000. Principal Financial Group Inc. lifted its holdings in shares of ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after purchasing an additional 5,284 shares in the last quarter. Retireful LLC purchased a new stake in shares of ResMed in the third quarter valued at about $742,000. Finally, Spire Wealth Management lifted its holdings in shares of ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock valued at $2,470,000 after purchasing an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the sale, the insider now owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,940 shares of company stock valued at $9,164,385 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the topic of several recent research reports. KeyCorp upped 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. Stifel Nicolaus reduced their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average price target of $243.82.

ResMed Stock Performance

NYSE:RMD opened at $224.48 on Friday. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market cap of $32.97 billion, a P/E ratio of 26.50, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The firm’s 50 day moving average is $236.30 and its two-hundred day moving average is $239.82.

ResMed (NYSE:RMD) last posted 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 net margin of 25.34% and a return on equity of 26.17%. Analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

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.