Great Lakes Advisors LLC Trims Position in ResMed Inc. (NYSE:RMD)

Great Lakes Advisors LLC trimmed its position in ResMed Inc. (NYSE:RMD) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,588 shares of the medical equipment provider’s stock after selling 59 shares during the period. Great Lakes Advisors LLC’s holdings in ResMed were worth $363,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Howard Capital Management Inc. boosted its holdings in shares of ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after buying an additional 45 shares during the last quarter. Ascent Group LLC boosted its stake in shares of ResMed by 1.7% during the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after acquiring an additional 48 shares during the last quarter. SkyView Investment Advisors LLC grew its position in shares of ResMed by 2.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after acquiring an additional 51 shares during the period. Wedmont Private Capital increased its stake in shares of ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in ResMed by 8.1% in the 4th quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after purchasing an additional 68 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on RMD shares. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Saturday. The Goldman Sachs Group initiated coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, Stifel Nicolaus lowered their target price 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.82.

ResMed Stock Up 2.2 %

RMD opened at $224.48 on Monday. The company has a market capitalization of $32.97 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The firm has a 50-day simple moving average of $236.30 and a two-hundred day simple moving average of $239.80. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating 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 forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now directly owns 9,725 shares in the company, valued at $2,289,265. The trade was a 48.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the sale, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,940 shares of company stock worth $9,164,385. Insiders own 0.71% of the company’s stock.

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.