ResMed Inc. $RMD Shares Sold by WBI Investments LLC

WBI Investments LLC reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 45.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,950 shares of the medical equipment provider’s stock after selling 2,421 shares during the period. WBI Investments LLC’s holdings in ResMed were worth $808,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. increased its stake in shares of ResMed by 1,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 86 shares during the last quarter. Imprint Wealth LLC acquired a new position in shares of ResMed during the 3rd quarter valued at about $26,000. WFA of San Diego LLC acquired a new position in shares of ResMed during the 2nd quarter valued at about $26,000. Sunbelt Securities Inc. purchased a new stake in shares of ResMed in the third quarter valued at about $31,000. Finally, Westside Investment Management Inc. increased its position in ResMed by 100.0% during the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total value of $520,440.00. Following the completion of the transaction, the director directly owned 62,773 shares of the company’s stock, valued at approximately $16,334,790.06. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $251.03, for a total value of $1,252,890.73. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $117,035,959.69. This trade represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 21,073 shares of company stock valued at $5,405,198. 0.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on RMD. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Royal Bank Of Canada raised their price target on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. UBS Group reaffirmed a “buy” rating and set a $345.00 price target on shares of ResMed in a research report on Friday, December 12th. Citigroup increased their price objective on ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings upgraded shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $299.27.

ResMed Price Performance

Shares of NYSE:RMD opened at $228.15 on Thursday. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The company has a 50-day simple moving average of $254.04 and a 200-day simple moving average of $257.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The stock has a market capitalization of $33.24 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.55 and a beta of 0.88.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. ResMed’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $2.43 EPS. On average, analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a yield of 1.1%. ResMed’s dividend payout ratio (DPR) is 23.74%.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.