ResMed Inc. (NYSE:RMD) Shares Sold by Norden Group LLC

Norden Group LLC trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,400 shares of the medical equipment provider’s stock after selling 336 shares during the period. Norden Group LLC’s holdings in ResMed were worth $241,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. MV Capital Management Inc. lifted its holdings in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 60 shares during the last quarter. Great Lakes Advisors LLC increased its position in ResMed by 2.6% in the third quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock worth $391,000 after buying an additional 68 shares during the period. Harfst & Associates Inc. grew its position in shares of ResMed by 0.7% during the third quarter. Harfst & Associates Inc. now owns 10,995 shares of the medical equipment provider’s stock worth $1,626,000 after acquiring an additional 73 shares during the last quarter. Czech National Bank raised its holdings in shares of ResMed by 0.3% during the fourth quarter. Czech National Bank now owns 25,762 shares of the medical equipment provider’s stock valued at $4,432,000 after buying an additional 81 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT grew its holdings in ResMed by 5.9% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 1,567 shares of the medical equipment provider’s stock worth $270,000 after buying an additional 88 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Transactions at ResMed

In related news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Karen Drexler sold 425 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the transaction, the director now owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,641 shares of company stock worth $2,137,958. 1.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RMD shares. JPMorgan Chase & Co. boosted their price target on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. UBS Group increased their target price on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Needham & Company LLC boosted their price target on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. KeyCorp raised their price objective on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Oppenheimer dropped their target price on ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed Stock Up 0.5 %

RMD opened at $214.96 on Thursday. The firm has a market cap of $31.58 billion, a P/E ratio of 33.02, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $240.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The business has a 50 day moving average price of $189.16 and a 200 day moving average price of $173.69.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $1.68 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts forecast that ResMed Inc. will post 7.57 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be given a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 annualized dividend and a yield of 0.89%. ResMed’s dividend payout ratio is 29.49%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.