W.G. Shaheen & Associates DBA Whitney & Co Sells 4,003 Shares of ResMed Inc. $RMD

W.G. Shaheen & Associates DBA Whitney & Co trimmed its position in ResMed Inc. (NYSE:RMD) by 7.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 49,528 shares of the medical equipment provider’s stock after selling 4,003 shares during the period. ResMed comprises 1.2% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 24th biggest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in ResMed were worth $13,557,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SJS Investment Consulting Inc. raised its holdings in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 86 shares during the period. WFA of San Diego LLC bought a new stake in shares of ResMed during the 2nd quarter valued at $26,000. Westside Investment Management Inc. lifted its holdings in ResMed by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 66 shares in the last quarter. GoalVest Advisory LLC bought a new position in ResMed in the 3rd quarter worth about $37,000. Finally, IMA Advisory Services Inc. grew its holdings in ResMed by 52.7% during the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 2.7%

Shares of RMD stock opened at $252.47 on Tuesday. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $252.61 and a two-hundred day moving average price of $262.60. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The firm has a market cap of $36.78 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.ResMed’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $2.43 EPS. Equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on RMD shares. Piper Sandler raised their price objective on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Wells Fargo & Company raised 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. Royal Bank Of Canada upped their price target on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. UBS Group reiterated a “buy” rating and issued a $345.00 price objective on shares of ResMed in a research report on Friday, December 12th. Finally, Citigroup boosted their target price on ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $299.27.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total value of $502,620.00. Following the transaction, the director owned 64,773 shares in the company, valued at $16,278,102.63. This trade represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $115,837,766.58. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,137 shares of company stock worth $4,658,832 in the last 90 days. 0.65% of the stock is owned by company 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.