Sentry Investment Management LLC Sells 83 Shares of ResMed Inc. (NYSE:RMD)

Sentry Investment Management LLC reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 9.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 768 shares of the medical equipment provider’s stock after selling 83 shares during the period. Sentry Investment Management LLC’s holdings in ResMed were worth $132,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new position in ResMed in the 3rd quarter worth $26,000. Compass Wealth Management LLC bought a new position in shares of ResMed during the 4th quarter worth approximately $26,000. International Assets Investment Management LLC acquired a new position in ResMed during the third quarter worth $27,000. EverSource Wealth Advisors LLC lifted its position in ResMed by 224.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 128 shares in the last quarter. Finally, Riverview Trust Co increased its position in shares of ResMed by 255.9% in the third quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders sold a total of 11,216 shares of company stock worth $2,046,617 in the last quarter. 1.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on RMD. Royal Bank of Canada boosted their price target on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 25th. Needham & Company LLC raised their price objective on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Oppenheimer boosted their target price on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. JPMorgan Chase & Co. raised their price target on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Finally, UBS Group boosted their price objective on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus price target of $199.20.

ResMed Stock Performance

ResMed stock opened at $173.86 on Thursday. The stock has a market cap of $25.57 billion, a PE ratio of 28.74, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $243.52. The business’s 50-day moving average price is $186.42 and its two-hundred day moving average price is $170.17.

ResMed (NYSE:RMD) last issued its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $1.66 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, analysts expect that ResMed Inc. will post 7.46 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Wednesday, February 7th. ResMed’s dividend payout ratio is currently 31.74%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.