West Coast Financial LLC Sells 1,205 Shares of ResMed Inc. (NYSE:RMD)

West Coast Financial LLC trimmed its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,133 shares of the medical equipment provider's stock after selling 1,205 shares during the period. West Coast Financial LLC's holdings in ResMed were worth $7,641,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Colonial Trust Co SC raised its position in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after buying an additional 125 shares during the last quarter. Optiver Holding B.V. bought a new stake in shares of ResMed in the fourth quarter worth approximately $33,000. Itau Unibanco Holding S.A. raised its holdings in shares of ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. OFI Invest Asset Management bought a new position in ResMed during the fourth quarter valued at approximately $39,000. Finally, Coppell Advisory Solutions LLC grew its position in ResMed by 1,750.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 175 shares during the period. Institutional investors own 54.98% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on RMD. Morgan Stanley set a $286.00 price objective on ResMed and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Royal Bank of Canada upped their price target on shares of ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research report on Thursday, April 24th. Wall Street Zen downgraded shares of ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Mizuho set a $265.00 target price on shares of ResMed in a report on Wednesday, April 16th. Finally, UBS Group dropped their price target on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $259.33.

ResMed Price Performance

Shares of RMD stock traded down $1.18 on Monday, reaching $251.02. The company's stock had a trading volume of 976,773 shares, compared to its average volume of 1,013,601. The company has a market capitalization of $36.81 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The stock's fifty day simple moving average is $232.85 and its 200-day simple moving average is $234.54. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the prior year, the company earned $2.13 EPS. The business's revenue was up 7.9% compared to the same quarter last year. Analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.84%. The ex-dividend date is Thursday, May 8th. ResMed's payout ratio is 23.79%.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total value of $1,948,029.07. Following the completion of the sale, the chief executive officer now directly owns 455,503 shares of the company's stock, valued at $110,791,994.69. The trade was a 1.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred 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 $16,088,923.32. The trade was a 2.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,123 shares of company stock worth $5,063,896 over the last quarter. Insiders own 0.71% of the company's stock.

ResMed Company 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.