Tandem Investment Advisors Inc. Has $98.08 Million Stake in ResMed Inc. $RMD

Tandem Investment Advisors Inc. cut its position in ResMed Inc. (NYSE:RMD) by 12.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 436,912 shares of the medical equipment provider’s stock after selling 63,233 shares during the period. ResMed accounts for about 4.8% of Tandem Investment Advisors Inc.’s investment portfolio, making the stock its 3rd biggest position. Tandem Investment Advisors Inc.’s holdings in ResMed were worth $98,078,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of ResMed during the fourth quarter worth approximately $25,000. ORG Partners LLC raised its stake in shares of ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 69 shares during the last quarter. Imprint Wealth LLC acquired a new position in shares of ResMed in the 3rd quarter worth approximately $26,000. WFA of San Diego LLC acquired a new position in shares of ResMed in the 2nd quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. bought a new stake in ResMed during the 3rd quarter worth approximately $31,000. 54.98% of the stock is owned by institutional investors.

ResMed Stock Down 1.9%

NYSE:RMD opened at $198.86 on Friday. The company has a market cap of $28.85 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 1.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The stock’s fifty day moving average price is $199.40 and its two-hundred day moving average price is $226.64. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81.

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

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is presently 23.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on ResMed from $227.00 to $225.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. Robert W. Baird set a $225.00 price objective on ResMed in a research note on Friday, May 1st. Morgan Stanley restated an “equal weight” rating and set a $230.00 target price (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. Jefferies Financial Group lowered their target price on ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Finally, Evercore set a $255.00 price target on ResMed and gave the company an “outperform” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $250.00.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $101,893,036.65. The trade was a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 14,973 shares of company stock worth $3,096,067. 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.