Vestcor Inc Sells 3,724 Shares of ResMed Inc. $RMD

Vestcor Inc lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 19.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,966 shares of the medical equipment provider’s stock after selling 3,724 shares during the quarter. Vestcor Inc’s holdings in ResMed were worth $4,097,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. boosted its stake in shares of ResMed by 1,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. WFA of San Diego LLC purchased a new position in ResMed during the 2nd quarter valued at about $26,000. Westside Investment Management Inc. raised its holdings in shares of ResMed by 100.0% during the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 66 shares in the last quarter. GoalVest Advisory LLC purchased a new stake in shares of ResMed in the 3rd quarter worth about $37,000. Finally, IMA Advisory Services Inc. lifted its holdings in ResMed by 52.7% in the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 48 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RMD shares. Weiss Ratings raised shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Stifel Nicolaus boosted their price objective on shares of ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a report on Friday, January 30th. UBS Group restated a “buy” rating and set a $345.00 price target on shares of ResMed in a research note on Friday, December 12th. Robert W. Baird set a $281.00 price objective on ResMed in a research note on Friday, January 30th. Finally, Wells Fargo & Company lifted their price target on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $299.27.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $273.78, for a total value of $1,366,435.98. Following the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total transaction of $520,440.00. Following the transaction, the director directly owned 62,773 shares of the company’s stock, valued at approximately $16,334,790.06. This trade represents a 3.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 16,082 shares of company stock worth $4,152,307. Insiders own 0.65% of the company’s stock.

ResMed Stock Performance

Shares of ResMed stock opened at $246.99 on Wednesday. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The stock’s fifty day moving average is $255.50 and its two-hundred day moving average is $259.25. The company has a market capitalization of $35.98 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.68 and a beta of 0.88. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company earned $2.43 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. As a group, analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is currently 23.74%.

ResMed Company 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.