ResMed Inc. $RMD Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc cut its stake in ResMed Inc. (NYSE:RMD) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,639 shares of the medical equipment provider’s stock after selling 3,659 shares during the quarter. Marks Group Wealth Management Inc’s holdings in ResMed were worth $7,380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Terra Nova Asset Management LLC increased its stake in shares of ResMed by 0.6% in the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after acquiring an additional 46 shares during the last quarter. IMA Advisory Services Inc. increased its stake in shares of ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 48 shares during the last quarter. Occidental Asset Management LLC increased its stake in shares of ResMed by 3.0% in the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after acquiring an additional 49 shares during the last quarter. Wedmont Private Capital increased its stake in shares of ResMed by 2.7% in the 4th quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock worth $542,000 after acquiring an additional 57 shares during the last quarter. Finally, New Wave Wealth Advisors LLC increased its stake in shares of ResMed by 3.0% in the 4th quarter. New Wave Wealth Advisors LLC now owns 1,956 shares of the medical equipment provider’s stock worth $471,000 after acquiring an additional 57 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $96,890,463.86. This trade represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 11,982 shares of company stock valued at $2,612,700. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on RMD shares. Royal Bank Of Canada raised their target price on ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. KeyCorp cut their target price on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Evercore set a $255.00 target price on ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. Citigroup cut their target price on ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Finally, Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $286.18.

ResMed Stock Performance

NYSE RMD opened at $193.35 on Tuesday. The stock has a market cap of $28.05 billion, a PE ratio of 18.65, a P/E/G ratio of 1.25 and a beta of 0.80. 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 Inc. has a twelve month low of $180.26 and a twelve month high of $293.81. The stock has a fifty day simple moving average of $212.53 and a 200-day simple moving average of $236.78.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.37 EPS. Equities analysts anticipate that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

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

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.