Everence Capital Management Inc. Sells 4,380 Shares of ResMed Inc. (NYSE:RMD)

Everence Capital Management Inc. cut its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 64.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,370 shares of the medical equipment provider's stock after selling 4,380 shares during the period. Everence Capital Management Inc.'s holdings in ResMed were worth $408,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC acquired a new position in ResMed during the 3rd quarter worth $26,000. Compass Wealth Management LLC acquired a new position in ResMed during the 4th quarter worth $26,000. International Assets Investment Management LLC acquired a new position in ResMed during the 3rd quarter worth $27,000. EverSource Wealth Advisors LLC lifted its position in ResMed by 224.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider's stock worth $27,000 after acquiring an additional 128 shares during the last quarter. Finally, Riverview Trust Co lifted its position in ResMed by 255.9% during the 3rd quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider's stock worth $31,000 after acquiring an additional 151 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Price Performance

NYSE RMD traded up $1.24 on Friday, reaching $178.85. The company's stock had a trading volume of 1,211,327 shares, compared to its average volume of 1,009,260. The firm has a market cap of $26.31 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 2.15 and a beta of 0.67. The business has a 50-day moving average price of $186.18 and a 200 day moving average price of $170.45. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $243.52. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.81 by $0.07. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.15 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The firm's revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Sell-side analysts expect that ResMed Inc. will post 7.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. ResMed's payout ratio is currently 31.74%.

Analysts Set New Price Targets

A number of research firms have weighed in on RMD. KeyCorp began coverage on shares of ResMed in a research report on Tuesday, February 6th. They set an "overweight" rating and a $227.00 target price for the company. Oppenheimer boosted their target price on shares of ResMed from $185.00 to $205.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 30th. Needham & Company LLC upped their price objective on shares of ResMed from $215.00 to $224.00 and gave the company a "buy" rating in a research report on Monday, April 1st. 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 research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of ResMed from $160.00 to $195.00 and gave the company an "overweight" rating in a research report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $199.20.

Insider Activity at ResMed

In related news, General Counsel Michael J. Rider sold 200 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now owns 6,688 shares of the company's stock, valued at $1,158,696. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the company's stock in a transaction dated Friday, March 1st. The shares were 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 of the company's stock, valued at $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 10,935 shares of the company'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 sale, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock valued at $2,046,617 over the last quarter. 1.21% of the stock is owned by company insiders.

About ResMed

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.