ResMed Inc. (NYSE:RMD) Position Lessened by West Coast Financial LLC

West Coast Financial LLC reduced its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Peak Financial Advisors LLC raised its holdings in shares of ResMed by 2.1% during the 1st quarter. Peak Financial Advisors LLC now owns 13,271 shares of the medical equipment provider's stock worth $2,971,000 after acquiring an additional 274 shares in the last quarter. ST Germain D J Co. Inc. lifted its holdings in shares of ResMed by 1.0% in the 1st quarter. ST Germain D J Co. Inc. now owns 94,010 shares of the medical equipment provider's stock worth $21,044,000 after buying an additional 961 shares during the period. Czech National Bank lifted its stake in shares of ResMed by 6.0% during the 1st quarter. Czech National Bank now owns 33,733 shares of the medical equipment provider's stock worth $7,551,000 after purchasing an additional 1,904 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of ResMed by 3.8% during the 1st quarter. Rhumbline Advisers now owns 306,459 shares of the medical equipment provider's stock worth $68,601,000 after purchasing an additional 11,324 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in shares of ResMed by 9.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,415 shares of the medical equipment provider's stock worth $317,000 after purchasing an additional 117 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on RMD. Royal Bank of Canada increased their price target on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research note on Thursday, April 24th. KeyCorp set a $274.00 target price on ResMed in a report on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Stifel Nicolaus lowered their price target on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. Finally, Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, ResMed has an average rating of "Moderate Buy" and a consensus price target of $259.33.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 2,000 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the sale, the director now directly owns 5,806 shares of the company's stock, valued at $1,413,586.82. This trade represents a 25.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the sale, the insider now directly owns 9,725 shares of the company's stock, valued at approximately $2,327,289.75. This represents a 50.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,868 shares of company stock valued at $7,395,972. 0.71% of the stock is owned by corporate insiders.

ResMed Stock Up 1.0%

NYSE RMD traded up $2.58 on Friday, hitting $252.27. 458,629 shares of the stock traded hands, compared to its average volume of 1,011,342. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $232.85 and a 200 day moving average of $234.65. The company has a market capitalization of $36.99 billion, a P/E ratio of 29.78, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. ResMed Inc. has a twelve month low of $179.42 and a twelve month high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the company posted $2.13 EPS. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's payout ratio is currently 23.79%.

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.