ResMed Inc. $RMD Shares Sold by Pacific Point Advisors LLC

Key Points

• Pacific Point Advisors cut its stake in ResMed by 75.7% in Q4, selling 4,726 shares and leaving 1,515 shares valued at about $365,000.
• Company insiders have been net sellers recently — CEO Michael J. Farrell sold 4,991 shares for ~$1.25M, a director sold 2,000 shares, and insiders sold 16,032 shares (~$4.11M) over the last 90 days (insiders own 0.65%).
• ResMed beat quarterly estimates with $2.81 EPS (vs. $2.68 est.) and $1.42B revenue (+11% YoY), and analysts have raised price targets; consensus rating is a Moderate Buy with a $299.27 target.

Pacific Point Advisors LLC cut its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 75.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,515 shares of the medical equipment provider's stock after selling 4,726 shares during the period. Pacific Point Advisors LLC's holdings in ResMed were worth $365,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of RMD. SJS Investment Consulting Inc. boosted its holdings in shares of ResMed by 1,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 86 shares during the period. ORG Partners LLC boosted its stake in ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider's stock valued at $26,000 after purchasing an additional 69 shares during the period. Imprint Wealth LLC acquired a new position in ResMed during the 3rd quarter valued at about $26,000. WFA of San Diego LLC acquired a new position in ResMed during the 2nd quarter valued at about $26,000. Finally, Sunbelt Securities Inc. acquired a new position in ResMed during the 3rd quarter valued at about $31,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Up 0.7%

Shares of NYSE:RMD opened at $226.53 on Wednesday. The company has a 50 day moving average of $245.31 and a 200-day moving average of $252.47. The firm has a market cap of $33.00 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.49 and a beta of 0.93. ResMed Inc. has a twelve month low of $201.84 and a twelve month high of $293.81. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.13. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.43 EPS. As a group, analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, February 12th. ResMed's dividend payout ratio is currently 23.74%.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 4,991 shares of the business's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $117,035,959.69. The trade was a 1.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 16,032 shares of company stock valued at $4,105,387. Company insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on RMD. Citigroup boosted their target price on shares of ResMed from $330.00 to $345.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Royal Bank Of Canada boosted their target price on shares of ResMed from $311.00 to $314.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. UBS Group reissued a "buy" rating and set a $345.00 target price on shares of ResMed in a research note on Friday, December 12th. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Finally, Stifel Nicolaus boosted their target price on shares of ResMed from $260.00 to $265.00 and gave the company a "hold" rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, ResMed currently has a consensus rating of "Moderate Buy" and a consensus target price of $299.27.

About ResMed

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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