ResMed Inc. (NYSE:RMD) Shares Sold by Commerce Bank

Commerce Bank lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 15.0% during the 4th quarter, HoldingsChannel reports. The firm owned 22,998 shares of the medical equipment provider’s stock after selling 4,059 shares during the period. Commerce Bank’s holdings in ResMed were worth $3,956,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. Morgan Stanley boosted its position in shares of ResMed by 102.4% during the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock valued at $344,481,000 after acquiring an additional 1,178,547 shares during the last quarter. Norges Bank acquired a new position in shares of ResMed during the 4th quarter valued at about $233,966,000. abrdn plc lifted its position in ResMed by 79.2% in the third quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock valued at $133,303,000 after buying an additional 398,302 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in ResMed by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 863,289 shares of the medical equipment provider’s stock valued at $148,503,000 after buying an additional 46,113 shares during the last quarter. Finally, LGT Capital Partners LTD. acquired a new position in ResMed in the fourth quarter valued at about $117,621,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Karen Drexler sold 425 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the sale, the director now directly owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction 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 owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen Drexler sold 425 shares of the stock in a transaction on Monday, April 29th. The stock was 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 approximately $1,815,214.32. The disclosure for this sale can be found here. Insiders sold a total of 15,749 shares of company stock valued at $3,398,025 over the last three months. 1.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of recent analyst reports. KeyCorp upped their target price on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Royal Bank of Canada upped their target price on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Oppenheimer cut their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. 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 note on Friday, April 26th. Finally, Mizuho reiterated a “buy” rating and set a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $202.80.

ResMed Price Performance

Shares of NYSE RMD opened at $213.26 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The stock has a fifty day moving average price of $200.16 and a 200 day moving average price of $182.58. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $229.97. The company has a market cap of $31.33 billion, a PE ratio of 32.76, a P/E/G ratio of 2.11 and a beta of 0.64.

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

ResMed Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Wednesday, May 8th. ResMed’s dividend payout ratio is presently 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.