ResMed Inc. $RMD Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its holdings in ResMed Inc. (NYSE:RMD) by 62.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 142,574 shares of the medical equipment provider’s stock after selling 242,214 shares during the quarter. Los Angeles Capital Management LLC owned 0.10% of ResMed worth $35,966,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in ResMed in the 3rd quarter worth about $26,000. WFA of San Diego LLC acquired a new position in ResMed in the 2nd quarter worth about $26,000. International Assets Investment Management LLC acquired a new position in ResMed in the 4th quarter worth about $25,000. ORG Partners LLC raised its holdings in ResMed by 181.6% in the 4th 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 period. Finally, Sunbelt Securities Inc. acquired a new position in ResMed in the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $195.95 on Monday. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The stock has a 50 day moving average of $213.11 and a two-hundred day moving average of $237.15. 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 firm has a market cap of $28.42 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80.

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

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed’s payout ratio is 23.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RMD shares. Wells Fargo & Company reduced their price target on ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Citigroup reduced their price target on ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, April 9th. JPMorgan Chase & Co. started coverage on ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating for the company. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Weiss Ratings lowered ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $286.18.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $207.82, for a total value of $1,037,229.62. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $96,890,463.86. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 11,982 shares of company stock valued at $2,612,700. 0.65% of the stock is owned by company insiders.

About ResMed

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.