ResMed Inc. (NYSE:RMD) Stake Reduced by Crestwood Advisors Group LLC


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Crestwood Advisors Group LLC trimmed its stake in ResMed Inc. (NYSE:RMD) by 2.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 200,249 shares of the medical equipment provider’s stock after selling 4,501 shares during the quarter. ResMed makes up about 1.4% of Crestwood Advisors Group LLC’s investment portfolio, making the stock its 19th largest holding. Crestwood Advisors Group LLC’s holdings in ResMed were worth $42,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in ResMed by 1.8% in the 4th quarter. BlackRock Inc. now owns 13,521,528 shares of the medical equipment provider’s stock worth $2,874,136,000 after buying an additional 240,047 shares in the last quarter. WCM Investment Management LLC boosted its position in ResMed by 2.6% during the 3rd quarter. WCM Investment Management LLC now owns 8,690,493 shares of the medical equipment provider’s stock worth $1,489,811,000 after acquiring an additional 221,840 shares during the period. FMR LLC boosted its position in ResMed by 2.6% during the 4th quarter. FMR LLC now owns 4,820,822 shares of the medical equipment provider’s stock worth $1,024,714,000 after acquiring an additional 124,340 shares during the period. JPMorgan Chase & Co. grew its stake in shares of ResMed by 15.8% in the third quarter. JPMorgan Chase & Co. now owns 1,630,909 shares of the medical equipment provider’s stock worth $281,593,000 after purchasing an additional 223,033 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of ResMed by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 718,741 shares of the medical equipment provider’s stock valued at $123,214,000 after purchasing an additional 49,038 shares during the period. 68.64% of the stock is owned by institutional investors.

A number of equities analysts recently issued reports on RMD shares. Bank of America upgraded shares of ResMed from an “underperform” rating to a “neutral” rating and set a $186.00 target price for the company in a research report on Tuesday, October 27th. UBS Group raised shares of ResMed from a “neutral” rating to a “buy” rating and set a $210.00 price target for the company in a research note on Monday, November 2nd. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 29th. Credit Suisse Group raised ResMed from a “neutral” rating to an “outperform” rating in a research note on Friday, October 30th. Finally, Zacks Investment Research lowered ResMed from a “buy” rating to a “hold” rating and set a $222.00 price objective for the company. in a report on Wednesday, December 30th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $194.83.

RMD traded up $0.03 during trading on Tuesday, reaching $200.05. The company had a trading volume of 11,848 shares, compared to its average volume of 667,027. The firm’s 50-day simple moving average is $208.92 and its 200 day simple moving average is $195.57. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.80 and a current ratio of 2.61. The company has a market cap of $29.11 billion, a price-to-earnings ratio of 42.92, a PEG ratio of 2.86 and a beta of 0.28. ResMed Inc. has a 12-month low of $108.85 and a 12-month high of $224.43.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 28th. The medical equipment provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.19. The business had revenue of $800.00 million for the quarter, compared to the consensus estimate of $785.07 million. ResMed had a net margin of 22.45% and a return on equity of 30.64%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. On average, sell-side analysts expect that ResMed Inc. will post 5.21 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 18th. Stockholders of record on Thursday, February 11th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, February 10th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.78%. ResMed’s dividend payout ratio is 32.77%.

In other ResMed news, Director Ronald R. Taylor sold 4,000 shares of ResMed stock in a transaction on Friday, February 19th. The shares were sold at an average price of $200.14, for a total transaction of $800,560.00. Following the completion of the sale, the director now owns 18,769 shares of the company’s stock, valued at approximately $3,756,427.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brett Sandercock sold 2,500 shares of the business’s stock in a transaction on Thursday, December 10th. The shares were sold at an average price of $211.06, for a total transaction of $527,650.00. Following the transaction, the chief financial officer now owns 103,100 shares in the company, valued at $21,760,286. The disclosure for this sale can be found here. Insiders have sold 17,825 shares of company stock worth $3,699,847 over the last three months. 1.33% of the stock is owned by insiders.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep apnea, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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