Janney Montgomery Scott LLC Has $16.47 Million Stock Position in ResMed Inc. (NYSE:RMD)

Janney Montgomery Scott LLC decreased its position in ResMed Inc. (NYSE:RMD - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,594 shares of the medical equipment provider's stock after selling 1,893 shares during the quarter. Janney Montgomery Scott LLC owned about 0.05% of ResMed worth $16,474,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RMD. Howard Capital Management Inc. boosted its position in shares of ResMed by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock valued at $206,000 after purchasing an additional 45 shares in the last quarter. CVA Family Office LLC lifted its stake in ResMed by 29.8% during the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock valued at $47,000 after purchasing an additional 48 shares during the last quarter. Central Pacific Bank Trust Division grew its position in ResMed by 9.7% in the first quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock worth $126,000 after buying an additional 50 shares during the last quarter. Faithward Advisors LLC grew its position in ResMed by 4.3% in the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock worth $292,000 after buying an additional 53 shares during the last quarter. Finally, Portside Wealth Group LLC increased its holdings in shares of ResMed by 3.8% in the first quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider's stock valued at $326,000 after buying an additional 54 shares in the last quarter. Institutional investors own 54.98% of the company's stock.

ResMed Stock Up 0.3%

Shares of ResMed stock traded up $0.78 on Thursday, hitting $250.87. 635,899 shares of the company traded hands, compared to its average volume of 1,006,240. ResMed Inc. has a 12-month low of $179.42 and a 12-month 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 company has a market cap of $36.79 billion, a PE ratio of 28.16, a PEG ratio of 1.72 and a beta of 0.78. The company has a 50-day moving average price of $239.10 and a 200 day moving average price of $234.87.

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

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. ResMed's payout ratio is 23.79%.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total value of $439,480.00. Following the completion of the sale, the director now owns 73,218 shares of the company's stock, valued at approximately $16,088,923.32. The trade was a 2.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 455,503 shares in the company, valued at $114,426,908.63. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,132 shares of company stock worth $7,075,837. Insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RMD shares. KeyCorp set a $274.00 price objective on ResMed in a research note on Thursday, April 24th. Stifel Nicolaus decreased 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. JPMorgan Chase & Co. boosted their price objective on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Finally, UBS Group dropped their target price on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.