ResMed Inc. $RMD Shares Sold by Marietta Investment Partners LLC

Key Points

• Marietta Investment Partners cut its ResMed stake by 87.7% in the fourth quarter, selling 8,648 shares and leaving it with 1,210 shares valued at about $291,000.
• Insiders have also been selling: Director Peter C. Farrell sold 2,000 shares and CEO Michael J. Farrell sold 4,991 shares, with insiders disposing of 16,973 shares worth $3.87 million over the last 90 days.
• ResMed reported solid quarterly results, beating EPS estimates with $2.86 per share and posting 10.8% revenue growth to $1.43 billion; the company also announced a quarterly dividend of $0.60 per share.

Marietta Investment Partners LLC decreased its stake in ResMed Inc. (NYSE:RMD - Free Report) by 87.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,210 shares of the medical equipment provider's stock after selling 8,648 shares during the quarter. Marietta Investment Partners LLC's holdings in ResMed were worth $291,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of ResMed in the fourth quarter worth about $25,000. ORG Partners LLC lifted its stake 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 buying an additional 69 shares in the last quarter. Imprint Wealth LLC purchased a new position in shares of ResMed in the third quarter worth about $26,000. WFA of San Diego LLC purchased a new position in shares of ResMed in the second quarter worth about $26,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of ResMed in the third quarter worth about $31,000. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $117,035,959.69. This trade represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,973 shares of company stock worth $3,865,591 over the last ninety days. 0.65% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of ResMed from $270.00 to $227.00 and set an "equal weight" rating on the stock in a research note on Friday, May 1st. KeyCorp decreased their price target on shares of ResMed from $302.00 to $290.00 and set an "overweight" rating on the stock in a research note on Monday, April 27th. Evercore set a $255.00 price target on shares of ResMed and gave the stock an "outperform" rating in a research note on Monday, April 13th. Weiss Ratings downgraded shares of ResMed from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 22nd. Finally, Wall Street Zen downgraded shares of ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and an average target price of $286.18.

ResMed Price Performance

Shares of RMD stock opened at $194.13 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The firm's 50-day moving average is $213.72 and its two-hundred day moving average is $237.50. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The company has a market capitalization of $28.16 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.19 and a beta of 0.80.

ResMed (NYSE:RMD - Get Free Report) last issued 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. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm earned $2.37 earnings per share. ResMed's quarterly revenue was up 10.8% compared to the same quarter last year. Analysts predict that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

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

ResMed Company 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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