Landscape Capital Management L.L.C. Sells 32,899 Shares of ResMed Inc. $RMD

Key Points

• Landscape Capital Management cut its ResMed stake by 67.1% in the fourth quarter, selling 32,899 shares and ending with 16,118 shares valued at about $3.88 million.
• ResMed reported stronger-than-expected quarterly results, with EPS of $2.86 versus $2.79 expected and revenue of $1.43 billion, up 10.8% year over year.
• The company also announced a quarterly dividend of $0.60 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $286.18.

Landscape Capital Management L.L.C. lowered its position in ResMed Inc. (NYSE:RMD - Free Report) by 67.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,118 shares of the medical equipment provider's stock after selling 32,899 shares during the period. Landscape Capital Management L.L.C.'s holdings in ResMed were worth $3,882,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RMD. International Assets Investment Management LLC bought a new stake in shares of ResMed in the fourth quarter worth $25,000. ORG Partners LLC grew its holdings in shares of ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider's stock worth $26,000 after acquiring an additional 69 shares during the period. Imprint Wealth LLC bought a new stake in shares of ResMed in the third quarter worth $26,000. WFA of San Diego LLC bought a new stake in shares of ResMed in the second quarter worth $26,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of ResMed in the third quarter worth $31,000. Institutional investors own 54.98% of the company's stock.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the business's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $193.96, for a total value of $968,054.36. Following the completion of the sale, the chief executive officer owned 466,256 shares in the company, valued at $90,435,013.76. This represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 16,973 shares of company stock worth $3,580,754 over the last quarter. 0.65% of the stock is owned by company insiders.

ResMed Stock Performance

NYSE RMD opened at $194.52 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The firm has a market cap of $28.22 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81. The business has a 50-day moving average price of $210.32 and a 200-day moving average price of $235.39.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping analysts' consensus estimates of $2.79 by $0.07. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.37 earnings per share. As a group, equities research analysts predict that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed's payout ratio is currently 23.14%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RMD. Citigroup cut their price target on ResMed from $345.00 to $340.00 and set a "buy" rating for the company in a report on Thursday, April 9th. Royal Bank Of Canada upped their price objective on ResMed from $314.00 to $321.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. Wells Fargo & Company dropped their price objective on ResMed from $270.00 to $227.00 and set an "equal weight" rating for the company in a research note on Friday, May 1st. JPMorgan Chase & Co. started coverage on ResMed in a research note on Wednesday, April 15th. They issued an "overweight" rating for the company. Finally, Robert W. Baird set a $225.00 price objective on ResMed in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $286.18.

ResMed Profile

ResMed NYSE: RMD is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed's product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.

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