ResMed Inc. $RMD Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 79.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,572 shares of the medical equipment provider’s stock after selling 28,783 shares during the period. Quantbot Technologies LP’s holdings in ResMed were worth $2,073,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RMD. SJS Investment Consulting Inc. increased its stake in shares of ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 86 shares during the period. WFA of San Diego LLC bought a new position in ResMed during the 2nd quarter valued at $26,000. Westside Investment Management Inc. increased its position in shares of ResMed by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 66 shares during the period. GoalVest Advisory LLC bought a new stake in shares of ResMed in the 3rd quarter worth $37,000. Finally, IMA Advisory Services Inc. lifted its holdings in shares of ResMed by 52.7% in the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 48 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $115,837,766.58. This represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total transaction of $502,620.00. Following the completion of the transaction, the director directly owned 64,773 shares in the company, valued at $16,278,102.63. This trade represents a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,082 shares of company stock worth $3,631,867 in the last ninety days. 0.65% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RMD has been the topic of a number of research analyst reports. UBS Group reaffirmed a “buy” rating and set a $345.00 target price on shares of ResMed in a report on Friday, December 12th. Citigroup lifted their price objective on shares of ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Wall Street Zen raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Robert W. Baird set a $281.00 target price on shares of ResMed in a report on Friday, January 30th. Finally, Royal Bank Of Canada boosted their price objective on ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average target price of $299.27.

ResMed Stock Up 0.3%

Shares of NYSE:RMD opened at $259.18 on Thursday. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The firm has a market cap of $37.76 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.71 and a beta of 0.88. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The company’s 50-day moving average price is $254.84 and its two-hundred day moving average price is $260.47.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the firm earned $2.43 earnings per share. ResMed’s revenue was up 11.0% compared to the same quarter last year. As a group, research analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio is 23.74%.

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.