ResMed Inc. $RMD Shares Sold by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP trimmed its stake in ResMed Inc. (NYSE:RMD) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,411 shares of the medical equipment provider’s stock after selling 242 shares during the quarter. ResMed makes up 1.0% of Wakefield Asset Management LLLP’s portfolio, making the stock its 29th biggest holding. Wakefield Asset Management LLLP’s holdings in ResMed were worth $3,718,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. OVERSEA CHINESE BANKING Corp Ltd raised its stake in ResMed by 1,168.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider’s stock valued at $132,272,000 after purchasing an additional 544,311 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of ResMed by 334.0% in the first quarter. Allianz Asset Management GmbH now owns 455,124 shares of the medical equipment provider’s stock valued at $101,880,000 after buying an additional 350,245 shares during the last quarter. Swedbank AB lifted its stake in shares of ResMed by 445.1% during the first quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider’s stock valued at $88,940,000 after buying an additional 324,428 shares during the period. Vanguard Group Inc. lifted its stake in shares of ResMed by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider’s stock valued at $4,139,815,000 after buying an additional 320,240 shares during the period. Finally, Nuveen LLC acquired a new stake in ResMed during the first quarter worth approximately $69,492,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insiders Place Their Bets

In other news, Director John Hernandez sold 2,575 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the transaction, the director owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $282.85, for a total value of $2,265,345.65. Following the transaction, the chief executive officer directly owned 467,792 shares in the company, valued at approximately $132,314,967.20. This represents a 1.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,693 shares of company stock valued at $5,270,419 in the last ninety days. Corporate insiders own 0.65% of the company’s stock.

ResMed Stock Down 2.2%

Shares of NYSE RMD opened at $246.67 on Friday. The stock has a fifty day moving average price of $271.78 and a 200 day moving average price of $261.08. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The company has a market cap of $36.00 billion, a P/E ratio of 25.94, a P/E/G ratio of 1.75 and a beta of 0.83.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company posted $2.20 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s dividend payout ratio is 24.56%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RMD. UBS Group upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Wells Fargo & Company started coverage on ResMed in a report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price target for the company. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Finally, Morgan Stanley set a $305.00 target price on shares of ResMed in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and an average target price of $297.20.

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.