Pathstone Holdings LLC Sells 468 Shares of ResMed Inc. (NYSE:RMD)

Pathstone Holdings LLC reduced its stake in ResMed Inc. (NYSE:RMD) by 2.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 16,473 shares of the medical equipment provider’s stock after selling 468 shares during the quarter. Pathstone Holdings LLC’s holdings in ResMed were worth $4,021,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Mawer Investment Management Ltd. lifted its position in ResMed by 3.2% in the 3rd quarter. Mawer Investment Management Ltd. now owns 76,554 shares of the medical equipment provider’s stock valued at $18,688,000 after acquiring an additional 2,394 shares in the last quarter. Quest Partners LLC lifted its position in ResMed by 472.5% in the 3rd quarter. Quest Partners LLC now owns 1,872 shares of the medical equipment provider’s stock valued at $457,000 after acquiring an additional 1,545 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in ResMed by 12.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock valued at $1,697,000 after acquiring an additional 755 shares in the last quarter. Claro Advisors LLC lifted its position in ResMed by 8.3% in the 3rd quarter. Claro Advisors LLC now owns 4,153 shares of the medical equipment provider’s stock valued at $1,014,000 after acquiring an additional 317 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in ResMed by 31.9% in the 3rd quarter. Natixis Advisors LLC now owns 51,498 shares of the medical equipment provider’s stock valued at $12,572,000 after acquiring an additional 12,445 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the completion of the sale, the chief executive officer now owns 464,169 shares of the company’s stock, valued at approximately $107,645,432.79. This represents a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Witte Jan De sold 796 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,174 shares of company stock worth $14,882,278 in the last quarter. Corporate insiders own 0.71% of the company’s stock.

ResMed Stock Performance

Shares of NYSE:RMD opened at $243.78 on Friday. The company’s 50 day moving average price is $241.86 and its two-hundred day moving average price is $224.47. ResMed Inc. has a 12-month low of $151.95 and a 12-month high of $260.49. The firm has a market cap of $35.79 billion, a PE ratio of 32.29, a PEG ratio of 1.77 and a beta of 0.69. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business posted $1.64 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. Equities research analysts predict that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. ResMed’s payout ratio is presently 28.08%.

Analyst Upgrades and Downgrades

Several brokerages have commented on RMD. Robert W. Baird boosted their price target on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Bank of America boosted their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Wolfe Research restated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.70.

About ResMed

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.