ResMed Inc. $RMD Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its position in shares of ResMed Inc. (NYSE:RMD) by 41.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,016 shares of the medical equipment provider’s stock after selling 2,855 shares during the quarter. Sterling Capital Management LLC’s holdings in ResMed were worth $902,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of ResMed during the 4th quarter worth $25,000. ORG Partners LLC boosted its holdings in shares of ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares during the last quarter. Imprint Wealth LLC purchased a new stake in shares of ResMed in the third quarter valued at $26,000. WFA of San Diego LLC purchased a new stake in shares of ResMed in the second quarter valued at $26,000. Finally, Sunbelt Securities Inc. acquired a new position in ResMed in the third quarter valued at $31,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Trading Down 1.7%

Shares of RMD opened at $195.04 on Wednesday. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81. The firm has a market capitalization of $28.29 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $202.14 and its 200 day simple moving average is $230.31.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.37 earnings per share. On average, equities research analysts forecast that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. ResMed’s payout ratio is presently 23.14%.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $193.96, for a total transaction of $968,054.36. Following the completion of the sale, the chief executive officer owned 466,256 shares of the company’s stock, valued at approximately $90,435,013.76. This represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 14,973 shares of company stock worth $3,130,754. 0.65% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Evercore set a $255.00 target price on ResMed and gave the stock an “outperform” rating in a research report on Monday, April 13th. JPMorgan Chase & Co. started coverage on ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating for the company. Robert W. Baird set a $225.00 price objective on shares of ResMed in a research note on Friday, May 1st. Weiss Ratings lowered shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Finally, Royal Bank Of Canada raised their target price on shares of ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $270.82.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.