Stephens Investment Management Group LLC Sells 39,260 Shares of ResMed Inc. $RMD

Stephens Investment Management Group LLC lowered its stake in ResMed Inc. (NYSE:RMD) by 12.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,019 shares of the medical equipment provider’s stock after selling 39,260 shares during the quarter. Stephens Investment Management Group LLC’s holdings in ResMed were worth $78,018,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RMD. Nations Financial Group Inc. IA ADV increased its position in ResMed by 1.0% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 9,528 shares of the medical equipment provider’s stock valued at $2,608,000 after acquiring an additional 95 shares during the period. WoodTrust Financial Corp lifted its holdings in shares of ResMed by 1.0% during the third quarter. WoodTrust Financial Corp now owns 7,755 shares of the medical equipment provider’s stock worth $2,123,000 after purchasing an additional 75 shares during the period. Ritholtz Wealth Management grew its stake in shares of ResMed by 34.7% in the third quarter. Ritholtz Wealth Management now owns 3,490 shares of the medical equipment provider’s stock worth $955,000 after purchasing an additional 900 shares during the last quarter. TKG Advisors LLC grew its stake in shares of ResMed by 4.1% in the third quarter. TKG Advisors LLC now owns 2,230 shares of the medical equipment provider’s stock worth $610,000 after purchasing an additional 88 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its holdings in ResMed by 648.8% in the third quarter. Campbell & CO Investment Adviser LLC now owns 9,330 shares of the medical equipment provider’s stock valued at $2,554,000 after purchasing an additional 8,084 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 1.1%

Shares of RMD stock opened at $257.71 on Friday. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.13 and a current ratio of 2.89. The stock has a 50 day simple moving average of $249.44 and a two-hundred day simple moving average of $263.21. The company has a market cap of $37.61 billion, a P/E ratio of 26.38, a PEG ratio of 1.75 and a beta of 0.88.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.20 EPS. Research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is presently 24.56%.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $115,837,766.58. This trade represents a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.83, for a total value of $497,660.00. Following the completion of the sale, the director directly owned 66,773 shares of the company’s stock, valued at $16,615,125.59. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 21,594 shares of company stock valued at $5,403,495. Corporate insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the topic of several recent research reports. KeyCorp lifted their target price on ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Royal Bank Of Canada raised their price objective on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ResMed in a research note on Monday, December 29th. Stifel Nicolaus decreased their target price on shares of ResMed from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Finally, Wells Fargo & Company assumed coverage on shares of ResMed in a research report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $296.09.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.