ResMed Inc. (NYSE:RMD) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 64.9% during the 4th quarter, according to its most recent 13F filing with the SEC. 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.

Several other institutional investors also recently added to or reduced their stakes in the company. Desjardins Global Asset Management Inc. increased its position in ResMed by 22.9% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 585 shares of the medical equipment provider’s stock worth $101,000 after buying an additional 109 shares during the period. Main Street Research LLC acquired a new position in ResMed during the fourth quarter worth approximately $206,000. SVB Wealth LLC acquired a new position in ResMed during the fourth quarter worth approximately $298,000. Oak Family Advisors LLC increased its position in ResMed by 16.7% during the fourth quarter. Oak Family Advisors LLC now owns 6,179 shares of the medical equipment provider’s stock worth $1,063,000 after buying an additional 883 shares during the period. Finally, Mackenzie Financial Corp increased its position in ResMed by 10.7% during the fourth quarter. Mackenzie Financial Corp now owns 167,765 shares of the medical equipment provider’s stock worth $28,859,000 after buying an additional 16,260 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insiders Place Their Bets

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, 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 on Friday, March 1st. The stock was 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 in the company, valued at $1,158,696. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,216 shares of company stock worth $2,046,617. 1.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on RMD shares. Royal Bank of Canada lifted their target price on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. Oppenheimer lifted their target price on ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Mizuho reiterated a “buy” rating and issued a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. JPMorgan Chase & Co. lifted their target price on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Finally, Needham & Company LLC lifted their target price on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.20.

ResMed Stock Up 2.2 %

ResMed stock opened at $177.61 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $243.52. The company has a market cap of $26.12 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 2.15 and a beta of 0.67. The stock’s 50 day moving average price is $186.29 and its 200 day moving average price is $170.22.

ResMed (NYSE:RMD) last posted its quarterly 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. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned $1.66 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, sell-side analysts predict that ResMed Inc. will post 7.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a yield of 1.08%. ResMed’s payout ratio is 31.74%.

ResMed 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.