Crossmark Global Holdings Inc. Cuts Stake in ResMed Inc. $RMD

Crossmark Global Holdings Inc. cut its stake in shares of ResMed Inc. (NYSE:RMD) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,642 shares of the medical equipment provider’s stock after selling 2,666 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in ResMed were worth $6,658,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of ResMed by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock worth $5,211,940,000 after purchasing an additional 293,515 shares during the period. Swedbank AB grew its stake in shares of ResMed by 103.1% during the 4th quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock worth $265,553,000 after purchasing an additional 559,765 shares during the period. Nordea Investment Management AB grew its stake in shares of ResMed by 37.2% during the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock worth $262,027,000 after purchasing an additional 294,124 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of ResMed by 6.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 846,134 shares of the medical equipment provider’s stock worth $231,587,000 after purchasing an additional 49,540 shares during the period. Finally, Caisse de depot et placement du Quebec grew its stake in shares of ResMed by 28.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 565,901 shares of the medical equipment provider’s stock worth $154,904,000 after purchasing an additional 123,781 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RMD shares. Wells Fargo & Company lowered their price target on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Weiss Ratings cut shares of ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Royal Bank Of Canada upped their price target on shares of ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. KeyCorp lowered their price target on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Finally, Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $286.18.

ResMed Price Performance

Shares of NYSE RMD opened at $206.65 on Friday. The stock has a market cap of $30.10 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.32 and a beta of 0.84. ResMed Inc. has a 52 week low of $198.64 and a 52 week high of $293.81. The company’s 50-day moving average price is $230.41 and its 200 day moving average price is $245.04. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.37 EPS. As a group, research analysts forecast that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio is presently 23.14%.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $225.50, for a total value of $1,125,470.50. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $105,133,286.50. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 18,973 shares of company stock worth $4,715,237. 0.65% of the stock is owned by corporate insiders.

About ResMed

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.