ResMed Inc. (NYSE:RMD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in ResMed Inc. (NYSE:RMD - Free Report) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,204,217 shares of the medical equipment provider's stock after selling 227,689 shares during the quarter. Bank of New York Mellon Corp owned about 3.54% of ResMed worth $1,164,964,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. GAMMA Investing LLC lifted its position in ResMed by 23,982.6% in the 1st quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider's stock valued at $164,207,000 after acquiring an additional 730,510 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after purchasing an additional 566,046 shares in the last quarter. Norges Bank purchased a new stake in shares of ResMed during the fourth quarter valued at $118,605,000. Captrust Financial Advisors increased its holdings in ResMed by 813.4% in the 4th quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider's stock worth $101,387,000 after buying an additional 394,803 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in ResMed by 133.6% in the 4th quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider's stock worth $142,944,000 after buying an additional 357,466 shares during the last quarter. Institutional investors own 54.98% of the company's stock.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 945 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total value of $241,438.05. Following the completion of the sale, the director directly owned 68,273 shares in the company, valued at approximately $17,443,068.77. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $251.21, for a total transaction of $2,011,940.89. Following the completion of the sale, the chief executive officer owned 455,503 shares of the company's stock, valued at $114,426,908.63. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,013 shares of company stock worth $6,863,532 over the last three months. Corporate insiders own 0.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RMD. UBS Group reduced their price target on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Royal Bank Of Canada raised their price target on ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 24th. KeyCorp set a $274.00 price objective on ResMed in a research report on Thursday, April 24th. Finally, Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $259.33.

ResMed Stock Up 0.4%

NYSE RMD traded up $1.08 during trading on Friday, reaching $256.96. 391,893 shares of the company's stock traded hands, compared to its average volume of 971,021. ResMed Inc. has a 12-month low of $188.56 and a 12-month high of $263.05. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.49. The firm has a market cap of $37.68 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 1.61 and a beta of 0.77. The company's 50 day simple moving average is $248.43 and its two-hundred day simple moving average is $235.91.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. ResMed's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.13 earnings per share. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, May 8th. ResMed's payout ratio is currently 23.79%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.