Landscape Capital Management L.L.C. Decreases Position in ResMed Inc. $RMD

Landscape Capital Management L.L.C. cut its stake in shares of ResMed Inc. (NYSE:RMD) by 67.1% during the fourth quarter, HoldingsChannel reports. The firm owned 16,118 shares of the medical equipment provider’s stock after selling 32,899 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in ResMed were worth $3,882,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in ResMed during the fourth quarter valued at approximately $25,000. ORG Partners LLC raised its position in ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 69 shares during the period. Imprint Wealth LLC purchased a new stake in ResMed during the third quarter valued at approximately $26,000. WFA of San Diego LLC purchased a new stake in ResMed during the second quarter valued at approximately $26,000. Finally, Sunbelt Securities Inc. purchased a new stake in ResMed during the third quarter valued at approximately $31,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $193.96, for a total value 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 $90,435,013.76. This represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,973 shares of company stock valued at $3,580,754 over the last quarter. Company insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

RMD has been the topic of several recent analyst reports. KeyCorp reduced their price target on ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a report on Monday, April 27th. Wells Fargo & Company reduced their price target on ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Robert W. Baird set a $225.00 price target on ResMed in a report on Friday, May 1st. Royal Bank Of Canada increased their price target on ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $286.18.

ResMed Trading Up 1.1%

Shares of NYSE RMD opened at $194.52 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The business’s 50 day moving average price is $210.32 and its 200-day moving average price is $235.39. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81. The company has a market cap of $28.22 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.24 and a beta of 0.80.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.07. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.ResMed’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.37 earnings per share. On average, sell-side analysts expect 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 will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed’s dividend payout ratio is currently 23.14%.

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.