ResMed Inc. (NYSE:RMD) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC decreased its position in ResMed Inc. (NYSE:RMD - Free Report) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,595 shares of the medical equipment provider's stock after selling 5,169 shares during the quarter. Confluence Investment Management LLC owned 0.08% of ResMed worth $26,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of RMD. MassMutual Private Wealth & Trust FSB increased its position in ResMed by 3.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 68,739 shares of the medical equipment provider's stock worth $15,387,000 after purchasing an additional 2,142 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of ResMed by 306.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,549 shares of the medical equipment provider's stock worth $6,758,000 after buying an additional 22,278 shares in the last quarter. NorthCrest Asset Manangement LLC increased its holdings in shares of ResMed by 1.0% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 53,033 shares of the medical equipment provider's stock worth $12,128,000 after buying an additional 541 shares during the last quarter. Menard Financial Group LLC purchased a new stake in shares of ResMed during the 4th quarter valued at about $98,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of ResMed during the 4th quarter valued at about $19,540,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares in the company, valued at $2,289,265. The trade was a 48.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at $95,580,799.20. This represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,949 shares of company stock worth $11,822,260 in the last three months. Corporate insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Morgan Stanley set a $286.00 price target on ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Royal Bank of Canada boosted their target price on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research report on Thursday, April 24th. Stifel Nicolaus lowered their price target on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. KeyCorp set a $274.00 price objective on shares of ResMed in a research note on Thursday, April 24th. Finally, Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ResMed has a consensus rating of "Moderate Buy" and an average target price of $259.33.

ResMed Trading Down 0.2%

RMD stock traded down $0.50 during mid-day trading on Friday, reaching $244.62. The company had a trading volume of 1,060,298 shares, compared to its average volume of 1,024,582. The firm has a 50 day moving average of $230.20 and a 200 day moving average of $234.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. The company has a market capitalization of $35.87 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $2.13 EPS. ResMed's revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that ResMed Inc. will post 9.47 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 12th. Investors of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is presently 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.