Cambridge Investment Research Advisors Inc. Decreases Stake in ResMed Inc. (NYSE:RMD)

Cambridge Investment Research Advisors Inc. trimmed its position in shares of ResMed Inc. (NYSE:RMDGet Rating) by 6.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,189 shares of the medical equipment provider’s stock after selling 232 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in ResMed were worth $696,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its holdings in ResMed by 2,000.0% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 147 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 140 shares during the last quarter. Coston McIsaac & Partners purchased a new stake in ResMed during the second quarter worth approximately $41,000. WFA of San Diego LLC acquired a new position in ResMed in the second quarter valued at approximately $52,000. Trust Co. of Vermont purchased a new position in ResMed in the second quarter valued at approximately $59,000. Finally, Clear Street Markets LLC raised its holdings in ResMed by 405.0% during the second quarter. Clear Street Markets LLC now owns 303 shares of the medical equipment provider’s stock worth $64,000 after purchasing an additional 243 shares in the last quarter. Institutional investors and hedge funds own 64.73% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $208.89 on Monday. The stock has a fifty day moving average price of $217.68 and a 200 day moving average price of $222.43. ResMed Inc. has a 1-year low of $189.40 and a 1-year high of $262.38. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.94 and a quick ratio of 1.69. The company has a market cap of $30.60 billion, a PE ratio of 39.04, a P/E/G ratio of 1.34 and a beta of 0.50.

ResMed (NYSE:RMDGet Rating) last released its earnings results on Thursday, October 27th. The medical equipment provider reported $1.51 EPS for the quarter, hitting the consensus estimate of $1.51. The company had revenue of $950.30 million during the quarter, compared to analysts’ expectations of $946.07 million. ResMed had a net margin of 21.70% and a return on equity of 25.75%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $1.51 EPS. Sell-side analysts forecast that ResMed Inc. will post 6.48 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, November 10th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Wednesday, November 9th. ResMed’s dividend payout ratio (DPR) is 32.90%.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Jefferies Financial Group initiated coverage on ResMed in a report on Wednesday, October 12th. They issued a “hold” rating and a $245.00 target price for the company. Bank of America upgraded ResMed from a “neutral” rating to a “buy” rating and raised their price target for the stock from $245.00 to $260.00 in a research note on Thursday, October 20th. Royal Bank of Canada boosted their price objective on ResMed from $252.00 to $254.00 and gave the company a “sector perform” rating in a research note on Friday, October 28th. Finally, Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a report on Friday, October 28th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $267.00.

Insider Activity

In related news, COO Robert Andrew Douglas sold 11,355 shares of the company’s stock in a transaction on Friday, October 14th. The stock was sold at an average price of $215.09, for a total transaction of $2,442,346.95. Following the transaction, the chief operating officer now owns 35,086 shares of the company’s stock, valued at $7,546,647.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael J. Farrell sold 5,675 shares of ResMed stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $214.58, for a total transaction of $1,217,741.50. Following the completion of the sale, the chief executive officer now directly owns 422,570 shares in the company, valued at approximately $90,675,070.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Robert Andrew Douglas sold 11,355 shares of the company’s stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $215.09, for a total value of $2,442,346.95. Following the completion of the sale, the chief operating officer now owns 35,086 shares in the company, valued at approximately $7,546,647.74. The disclosure for this sale can be found here. Insiders sold 66,081 shares of company stock valued at $14,495,447 in the last three months. 1.39% of the stock is currently owned by company insiders.

ResMed Profile

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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 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.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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