Copeland Capital Management LLC Cuts Stock Position in ResMed Inc. (NYSE:RMD)

Copeland Capital Management LLC cut its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 16.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,505 shares of the medical equipment provider's stock after selling 1,062 shares during the period. Copeland Capital Management LLC's holdings in ResMed were worth $1,232,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. IFP Advisors Inc grew its position in shares of ResMed by 37.1% during the fourth quarter. IFP Advisors Inc now owns 373 shares of the medical equipment provider's stock worth $85,000 after buying an additional 101 shares in the last quarter. New York Life Investment Management LLC grew its position in shares of ResMed by 1.1% during the fourth quarter. New York Life Investment Management LLC now owns 21,914 shares of the medical equipment provider's stock worth $5,012,000 after buying an additional 230 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of ResMed by 162.1% during the fourth quarter. QRG Capital Management Inc. now owns 17,812 shares of the medical equipment provider's stock worth $4,074,000 after buying an additional 11,015 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of ResMed during the fourth quarter worth about $257,000. Finally, Fisher Asset Management LLC grew its position in shares of ResMed by 61.0% during the fourth quarter. Fisher Asset Management LLC now owns 43,028 shares of the medical equipment provider's stock worth $9,840,000 after buying an additional 16,301 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at approximately $95,580,799.20. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total value of $484,500.00. Following the sale, the director now owns 71,218 shares of the company's stock, valued at $17,252,560.50. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,132 shares of company stock valued at $7,075,837. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Performance

Shares of RMD opened at $255.02 on Friday. The company has a market capitalization of $37.39 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78. ResMed Inc. has a 52-week low of $186.22 and a 52-week high of $263.05. The stock has a 50 day moving average price of $244.99 and a 200 day moving average price of $235.32. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The company's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.13 earnings per share. Research analysts predict 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 issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Thursday, May 8th. ResMed's payout ratio is currently 23.79%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RMD shares. Royal Bank Of Canada boosted their price objective on ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 24th. Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Morgan Stanley set a $286.00 price objective on ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Mizuho set a $265.00 price objective on ResMed in a research report on Wednesday, April 16th. Finally, UBS Group lowered their price target on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ResMed has an average rating of "Moderate Buy" and a consensus price target of $259.33.

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.

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