Tandem Investment Advisors Inc. Has $64.58 Million Stake in ResMed Inc. (NYSE:RMD)

Tandem Investment Advisors Inc. decreased its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 375,446 shares of the medical equipment provider's stock after selling 14,112 shares during the quarter. ResMed comprises approximately 2.6% of Tandem Investment Advisors Inc.'s investment portfolio, making the stock its 20th biggest holding. Tandem Investment Advisors Inc. owned about 0.26% of ResMed worth $64,584,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC bought a new position in ResMed during the 3rd quarter worth approximately $26,000. Compass Wealth Management LLC bought a new position in ResMed in the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC bought a new position in ResMed in the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC lifted its stake in ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 128 shares in the last quarter. Finally, Riverview Trust Co lifted its stake in ResMed by 255.9% in the third quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider's stock valued at $31,000 after buying an additional 151 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Activity

In other news, General Counsel Michael J. Rider sold 200 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Peter C. Farrell sold 10,935 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares of the company's stock, valued at $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares of the company's stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock worth $2,046,617 over the last ninety days. Company insiders own 1.21% of the company's stock.

ResMed Stock Performance

ResMed stock traded down $11.00 during midday trading on Wednesday, reaching $173.86. The stock had a trading volume of 3,003,460 shares, compared to its average volume of 997,501. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $243.52. The firm's 50-day moving average price is $186.67 and its 200 day moving average price is $170.14. The firm has a market capitalization of $25.57 billion, a PE ratio of 28.62, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the previous year, the business posted $1.66 EPS. The firm's quarterly revenue was up 12.5% compared to the same quarter last year. As a group, research analysts predict that ResMed Inc. will post 7.46 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 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Wednesday, February 7th. ResMed's dividend payout ratio is presently 31.74%.

Analysts Set New Price Targets

A number of research analysts have weighed in on RMD shares. KeyCorp started coverage on shares of ResMed in a research note on Tuesday, February 6th. They issued an "overweight" rating and a $227.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $160.00 to $195.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 9th. Mizuho restated a "buy" rating and set a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. UBS Group boosted their target price on shares of ResMed from $175.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada upped their price objective on shares of ResMed from $181.00 to $182.00 and gave the company a "sector perform" rating in a report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $199.20.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.