Cwm LLC Sells 4,510 Shares of ResMed Inc. (NYSE:RMD)

CWM LLC cut its stake in ResMed Inc. (NYSE:RMD - Free Report) by 35.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,365 shares of the medical equipment provider's stock after selling 4,510 shares during the quarter. CWM LLC's holdings in ResMed were worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RMD. Global X Japan Co. Ltd. raised its holdings in shares of ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Colonial Trust Co SC raised its holdings in shares of ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. Optiver Holding B.V. bought a new position in shares of ResMed during the 4th quarter valued at $33,000. Golden State Wealth Management LLC raised its holdings in shares of ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised its holdings in shares of ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RMD. Royal Bank Of Canada upgraded shares of ResMed from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $255.00 to $294.00 in a report on Tuesday, July 15th. UBS Group decreased their price target on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Morgan Stanley set a $286.00 price target on shares of ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Finally, Wall Street Zen lowered shares of 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, four have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $263.00.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total value of $484,500.00. Following the transaction, the director directly owned 71,218 shares in the company, valued at $17,252,560.50. This represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Monday, July 7th. The stock was sold at an average price of $256.72, for a total transaction of $2,056,070.48. Following the transaction, the chief executive officer directly owned 455,503 shares in the company, valued at approximately $116,936,730.16. This represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,013 shares of company stock worth $7,238,913 over the last ninety days. Company insiders own 0.71% of the company's stock.

ResMed Price Performance

NYSE:RMD traded up $3.18 on Monday, reaching $261.10. The stock had a trading volume of 1,011,252 shares, compared to its average volume of 970,930. The company has a market capitalization of $38.28 billion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 1.61 and a beta of 0.77. ResMed Inc. has a 1-year low of $196.43 and a 1-year high of $263.05. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $251.53 and a 200-day moving average price of $237.65.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating the consensus estimate of $2.36 by $0.01. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the prior year, the firm earned $2.13 earnings per share. ResMed's revenue was up 7.9% compared to the same quarter last year. Research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.81%. ResMed's dividend payout ratio (DPR) is currently 23.79%.

About ResMed

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.