ResMed Inc. $RMD Shares Sold by Savant Capital LLC

Savant Capital LLC reduced its holdings in ResMed Inc. (NYSE:RMD) by 21.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,858 shares of the medical equipment provider’s stock after selling 3,018 shares during the quarter. Savant Capital LLC’s holdings in ResMed were worth $2,801,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC lifted its holdings in shares of ResMed by 6.3% during the 1st quarter. Ballentine Partners LLC now owns 1,782 shares of the medical equipment provider’s stock valued at $399,000 after acquiring an additional 105 shares in the last quarter. Inspire Investing LLC increased its holdings in ResMed by 29.3% in the 1st quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock valued at $6,397,000 after purchasing an additional 6,472 shares in the last quarter. Intech Investment Management LLC increased its holdings in ResMed by 63.2% in the 1st quarter. Intech Investment Management LLC now owns 15,325 shares of the medical equipment provider’s stock valued at $3,430,000 after purchasing an additional 5,934 shares in the last quarter. Goldman Sachs Group Inc. raised its position in ResMed by 8.5% in the first quarter. Goldman Sachs Group Inc. now owns 739,007 shares of the medical equipment provider’s stock valued at $165,427,000 after purchasing an additional 58,155 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of ResMed by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider’s stock worth $218,791,000 after purchasing an additional 22,789 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John Hernandez sold 2,575 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the transaction, the director owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. Rider sold 100 shares of ResMed stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the completion of the transaction, the general counsel owned 11,327 shares of the company’s stock, valued at $3,107,675.72. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 18,695 shares of company stock worth $5,032,811. 0.65% of the stock is currently owned by corporate insiders.

ResMed Stock Performance

Shares of RMD opened at $250.03 on Tuesday. The business’s 50 day moving average is $268.05 and its two-hundred day moving average is $262.76. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The firm has a market cap of $36.49 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 1.75 and a beta of 0.87. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 earnings per share. Analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed’s payout ratio is presently 24.56%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RMD. Piper Sandler upped their target price on ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. KeyCorp upped their price target on ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Citigroup began coverage on shares of ResMed in a research report on Thursday, September 18th. They issued a “buy” rating and a $330.00 price objective for the company. William Blair raised shares of ResMed to a “strong-buy” rating in a research report on Friday, August 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of ResMed in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.45.

ResMed 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.