ResMed Inc. (NYSE:RMD) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. decreased its position in shares of ResMed Inc. (NYSE:RMD) by 5.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,963 shares of the medical equipment provider’s stock after selling 601 shares during the period. Scotia Capital Inc.’s holdings in ResMed were worth $2,230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Global X Japan Co. Ltd. increased its stake in ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 68 shares during the period. Colonial Trust Co SC boosted its stake in shares of ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 125 shares during the period. Optiver Holding B.V. acquired a new position in shares of ResMed in the fourth quarter valued at approximately $33,000. Golden State Wealth Management LLC increased its stake in ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 127 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its holdings in ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 150 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Price Performance

Shares of RMD opened at $284.72 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.08. The stock has a market cap of $41.75 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.96 and a beta of 0.77. The firm has a fifty day moving average price of $258.32 and a 200 day moving average price of $241.06.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.08 EPS. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 13th. This is a positive change from ResMed’s previous quarterly dividend of $0.53. ResMed’s dividend payout ratio is presently 22.29%.

Analysts Set New Price Targets

RMD has been the subject of several research reports. William Blair upgraded shares of ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Wall Street Zen raised ResMed from a “hold” rating to a “buy” rating in a research note on Saturday. KeyCorp increased their price target on ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Morgan Stanley set a $286.00 target price on shares of ResMed and gave the stock an “overweight” rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $274.83.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 945 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total transaction of $241,438.05. Following the transaction, the director directly owned 68,273 shares of the company’s stock, valued at approximately $17,443,068.77. This trade represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $256.72, for a total value of $2,056,070.48. Following the completion of the transaction, the chief executive officer directly owned 455,503 shares in the company, valued at approximately $116,936,730.16. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $4,820,479 in the last ninety days. 0.71% of the stock is currently owned by company insiders.

About ResMed

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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.