ResMed Inc. $RMD Shares Sold by CW Advisors LLC

Key Points

• CW Advisors LLC reduced its holdings in ResMed Inc. by 13.5%, now owning 55,270 shares valued at approximately $12.37 million.
• ResMed has a consensus rating of "Moderate Buy" among analysts, with a target price averaging $274.83, while various analysts have provided upgraded ratings and price objectives ranging between $270.00 to $325.00.
• The company recently declared a quarterly dividend of $0.60, an increase from the previous $0.53, reflecting a positive change in its dividend policy.

CW Advisors LLC trimmed its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,270 shares of the medical equipment provider's stock after selling 8,635 shares during the quarter. CW Advisors LLC's holdings in ResMed were worth $12,373,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RMD. GAMMA Investing LLC lifted its holdings in shares of ResMed by 23,982.6% in the 1st quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider's stock valued at $164,207,000 after buying an additional 730,510 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in ResMed by 1,168.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider's stock worth $132,272,000 after buying an additional 544,311 shares in the last quarter. Captrust Financial Advisors grew its position in ResMed by 813.4% during the fourth quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider's stock valued at $101,387,000 after buying an additional 394,803 shares during the period. AQR Capital Management LLC increased its holdings in ResMed by 133.6% in the fourth quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider's stock valued at $142,944,000 after buying an additional 357,466 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in ResMed by 334.0% in the first quarter. Allianz Asset Management GmbH now owns 455,124 shares of the medical equipment provider's stock valued at $101,880,000 after buying an additional 350,245 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 945 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total value of $241,438.05. Following the completion of the transaction, the director owned 68,273 shares of the company's stock, valued at approximately $17,443,068.77. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Hernandez sold 2,575 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the transaction, the director directly owned 4,045 shares of the company's stock, valued at $1,161,319.50. This represents a 38.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,638 shares of company stock worth $7,311,177 over the last ninety days. Corporate insiders own 0.71% of the company's stock.

ResMed Trading Up 1.8%

Shares of NYSE:RMD traded up $5.1380 during midday trading on Friday, reaching $293.4780. 627,080 shares of the company's stock were exchanged, compared to its average volume of 1,120,408. The stock has a market cap of $42.97 billion, a price-to-earnings ratio of 30.86, a P/E/G ratio of 1.97 and a beta of 0.77. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The firm's 50 day simple moving average is $267.91 and its two-hundred day simple moving average is $244.59. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.08. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. ResMed's revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 earnings per share. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This is a positive change from ResMed's previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. ResMed's dividend payout ratio is presently 25.24%.

Analysts Set New Price Targets

A number of brokerages have issued reports on RMD. Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Mizuho upped their price objective on shares of ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Piper Sandler increased their target price on ResMed from $248.00 to $270.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Morgan Stanley set a $286.00 price target on ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Finally, Stifel Nicolaus boosted their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ResMed has an average rating of "Moderate Buy" and an average target price of $274.83.

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.