Catalyst Funds Management Pty Ltd Has $2.62 Million Stake in ResMed Inc. $RMD

Catalyst Funds Management Pty Ltd reduced its stake in ResMed Inc. (NYSE:RMD) by 43.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,859 shares of the medical equipment provider’s stock after selling 8,400 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in ResMed were worth $2,616,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RMD. Jones Financial Companies Lllp raised its position in ResMed by 52.6% in the 1st quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after buying an additional 994 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in ResMed in the 2nd quarter valued at $389,000. Brown Advisory Inc. raised its position in ResMed by 17.8% in the 2nd quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock valued at $409,000 after buying an additional 240 shares during the last quarter. Cresset Asset Management LLC purchased a new stake in ResMed in the 2nd quarter valued at $206,000. Finally, Alliancebernstein L.P. raised its position in ResMed by 24.2% in the 2nd quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock valued at $73,808,000 after buying an additional 55,790 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Trading Down 0.5%

Shares of ResMed stock opened at $208.04 on Friday. ResMed Inc. has a 1 year low of $198.61 and a 1 year high of $293.81. The firm has a market cap of $30.31 billion, a PE ratio of 20.06, a P/E/G ratio of 1.33 and a beta of 0.84. The stock has a fifty day moving average price of $219.73 and a 200-day moving average price of $240.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm posted $2.37 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts anticipate that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s dividend payout ratio (DPR) is currently 23.14%.

Wall Street Analyst Weigh In

A number of research firms recently commented on RMD. KeyCorp lowered their price target on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Wells Fargo & Company lowered their price target on ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. JPMorgan Chase & Co. began coverage on ResMed in a research report on Wednesday, April 15th. They issued an “overweight” rating for the company. Finally, Royal Bank Of Canada increased their price target on ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $286.18.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $96,890,463.86. This trade represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 18,973 shares of company stock valued at $4,386,031. Insiders own 0.65% of the company’s stock.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.