Wedmont Private Capital Sells 1,402 Shares of ResMed Inc. (NYSE:RMD)

Wedmont Private Capital lowered its stake in shares of ResMed Inc. (NYSE:RMD – Get Rating) by 43.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,815 shares of the medical equipment provider’s stock after selling 1,402 shares during the quarter. Wedmont Private Capital’s holdings in ResMed were worth $379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RMD. Cambridge Investment Research Advisors Inc. increased its holdings in ResMed by 15.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,050 shares of the medical equipment provider’s stock valued at $740,000 after buying an additional 414 shares during the period. Cibc World Market Inc. grew its holdings in shares of ResMed by 13.0% in the 1st quarter. Cibc World Market Inc. now owns 1,000 shares of the medical equipment provider’s stock worth $243,000 after purchasing an additional 115 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of ResMed by 14.5% in the 1st quarter. Vontobel Holding Ltd. now owns 8,112 shares of the medical equipment provider’s stock worth $2,020,000 after purchasing an additional 1,025 shares during the last quarter. Sei Investments Co. grew its holdings in shares of ResMed by 7.8% in the 1st quarter. Sei Investments Co. now owns 40,740 shares of the medical equipment provider’s stock worth $9,781,000 after purchasing an additional 2,955 shares during the last quarter. Finally, Prudential PLC acquired a new position in ResMed during the 1st quarter worth about $694,000. Institutional investors own 64.73% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $207.10 on Friday. The stock has a market capitalization of $30.42 billion, a P/E ratio of 37.59, a P/E/G ratio of 1.97 and a beta of 0.48. ResMed Inc. has a twelve month low of $189.40 and a twelve month high of $262.38. The company has a 50 day moving average of $218.31 and a 200-day moving average of $219.28. The company has a quick ratio of 1.82, a current ratio of 3.17 and a debt-to-equity ratio of 0.48.

ResMed (NYSE:RMD – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The medical equipment provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $996.22 million. ResMed had a return on equity of 25.46% and a net margin of 21.51%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 EPS. As a group, equities research analysts forecast that ResMed Inc. will post 6.38 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 16th. Stockholders of record on Thursday, February 9th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Wednesday, February 8th. ResMed’s payout ratio is presently 31.94%.

Insider Buying and Selling at ResMed

In other ResMed news, CFO Brett Sandercock sold 4,000 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $215.00, for a total transaction of $860,000.00. Following the completion of the sale, the chief financial officer now owns 116,880 shares of the company’s stock, valued at approximately $25,129,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider David Pendarvis sold 1,500 shares of ResMed stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $210.07, for a total transaction of $315,105.00. Following the completion of the sale, the insider now owns 97,172 shares of the company’s stock, valued at $20,412,922.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brett Sandercock sold 4,000 shares of ResMed stock in a transaction on Monday, February 13th. The stock was sold at an average price of $215.00, for a total value of $860,000.00. Following the sale, the chief financial officer now directly owns 116,880 shares of the company’s stock, valued at approximately $25,129,200. The disclosure for this sale can be found here. Insiders sold 30,619 shares of company stock valued at $6,598,428 in the last quarter. 1.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RMD has been the topic of several research reports. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 18th. JPMorgan Chase & Co. upped their target price on shares of ResMed from $245.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. William Blair restated an “outperform” rating on shares of ResMed in a research report on Tuesday, January 31st. Finally, StockNews.com started coverage on shares of ResMed in a research report on Thursday. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $263.17.

ResMed Profile

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ResMed, Inc engages in providing digital health and cloud-connected medical devices. Its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, chronic obstructive pulmonary disease, or COPD, and other chronic diseases. The firm operates through the Sleep and Respiratory Care and Software as a Service segments.