WBI Investments LLC Lowers Stock Position in ResMed Inc. $RMD

WBI Investments LLC reduced its position in ResMed Inc. (NYSE:RMD) by 27.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,371 shares of the medical equipment provider’s stock after selling 2,069 shares during the quarter. WBI Investments LLC’s holdings in ResMed were worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. grew its position in ResMed by 4.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 47,399 shares of the medical equipment provider’s stock valued at $12,229,000 after acquiring an additional 2,186 shares during the period. Integrated Quantitative Investments LLC purchased a new stake in shares of ResMed during the 2nd quarter worth about $1,019,000. Citizens Financial Group Inc. RI increased its position in ResMed by 24.0% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 1,125 shares of the medical equipment provider’s stock worth $290,000 after purchasing an additional 218 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in ResMed during the 2nd quarter worth approximately $389,000. Finally, Intech Investment Management LLC raised its holdings in ResMed by 45.0% in the second quarter. Intech Investment Management LLC now owns 22,216 shares of the medical equipment provider’s stock valued at $5,732,000 after buying an additional 6,891 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 8,011 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $249.75, for a total value of $2,000,747.25. Following the sale, the chief executive officer owned 467,866 shares in the company, valued at approximately $116,849,533.50. This represents a 1.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Witte Jan De sold 487 shares of ResMed stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $250.25, for a total value of $121,871.75. Following the completion of the transaction, the director owned 5,319 shares of the company’s stock, valued at $1,331,079.75. This trade represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,607 shares of company stock worth $4,919,501 in the last ninety days. 0.65% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. KeyCorp increased their price objective on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Morgan Stanley set a $305.00 price target on ResMed in a report on Friday, October 31st. Robert W. Baird reduced their price objective on ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Weiss Ratings lowered ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $297.45.

ResMed Stock Up 0.2%

Shares of NYSE RMD opened at $244.99 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The stock’s 50-day simple moving average is $265.58 and its 200-day simple moving average is $263.23. The firm has a market cap of $35.75 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 1.75 and a beta of 0.87.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the business posted $2.20 earnings per share. ResMed’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

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

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.