Great Lakes Advisors LLC Decreases Stock Holdings in ResMed Inc. (NYSE:RMD)

Great Lakes Advisors LLC lessened its stake in ResMed Inc. (NYSE:RMD) by 29.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,856 shares of the medical equipment provider’s stock after selling 787 shares during the quarter. Great Lakes Advisors LLC’s holdings in ResMed were worth $319,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RMD. EverSource Wealth Advisors LLC grew its position in shares of ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 128 shares during the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in ResMed in the fourth quarter worth $27,000. Operose Advisors LLC acquired a new position in shares of ResMed during the third quarter worth $32,000. Planned Solutions Inc. purchased a new stake in shares of ResMed during the 4th quarter valued at $34,000. Finally, MV Capital Management Inc. boosted its position in shares of ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In other news, Director Witte Jan De sold 360 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the sale, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The shares were 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 of the company’s stock, valued at $1,158,696. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Witte Jan De sold 360 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the transaction, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,749 shares of company stock worth $3,398,025. 1.21% of the stock is owned by company insiders.

ResMed Stock Performance

NYSE RMD opened at $218.27 on Thursday. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $229.97. 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 firm has a market capitalization of $32.07 billion, a P/E ratio of 33.53, a PEG ratio of 2.16 and a beta of 0.64. The stock has a 50-day simple moving average of $199.30 and a two-hundred day simple moving average of $181.50.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. ResMed’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 earnings per share. On average, equities analysts forecast that ResMed Inc. will post 7.64 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RMD. KeyCorp upped their target price on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. UBS Group upped their price objective on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Mizuho reissued a “buy” rating and set a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Oppenheimer decreased their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Finally, Royal Bank of Canada boosted their price objective on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average price target of $202.80.

About ResMed

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.