ResMed Inc. $RMD Stock Holdings Lessened by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP trimmed its stake in shares of ResMed Inc. (NYSE:RMD) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,411 shares of the medical equipment provider’s stock after selling 242 shares during the period. ResMed comprises about 1.0% of Wakefield Asset Management LLLP’s holdings, making the stock its 29th biggest holding. Wakefield Asset Management LLLP’s holdings in ResMed were worth $3,718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in RMD. Versor Investments LP boosted its stake in ResMed by 23.2% in the 2nd quarter. Versor Investments LP now owns 2,220 shares of the medical equipment provider’s stock worth $573,000 after purchasing an additional 418 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in ResMed by 6.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 33,477 shares of the medical equipment provider’s stock valued at $8,637,000 after purchasing an additional 1,925 shares during the period. Welch & Forbes LLC lifted its holdings in shares of ResMed by 0.5% in the second quarter. Welch & Forbes LLC now owns 331,578 shares of the medical equipment provider’s stock valued at $85,547,000 after purchasing an additional 1,686 shares in the last quarter. Regal Partners Ltd acquired a new stake in shares of ResMed in the second quarter worth $593,000. Finally, Hills Bank & Trust Co acquired a new stake in shares of ResMed in the second quarter worth $102,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RMD. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ResMed in a research report on Wednesday, October 8th. William Blair upgraded shares of ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Royal Bank Of Canada lifted their target price on shares of ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research note on Friday. Finally, UBS Group raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $297.20.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the sale, the chief executive officer directly owned 467,792 shares in the company, valued at approximately $132,314,967.20. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Hernandez sold 2,575 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the transaction, the director directly owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 18,693 shares of company stock valued at $5,270,419. 0.65% of the stock is owned by corporate insiders.

ResMed Stock Performance

RMD opened at $246.67 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The company has a market cap of $36.00 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.75 and a beta of 0.83. The stock has a 50-day moving average of $271.78 and a 200-day moving average of $261.08. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 EPS for the quarter, topping the consensus estimate of $2.49 by $0.06. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS. As a group, equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given a $0.60 dividend. The ex-dividend date is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s dividend payout ratio (DPR) is currently 24.56%.

ResMed Company Profile

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.