ResMed Inc. (NYSE:RMD) Position Trimmed by Townsquare Capital LLC

Townsquare Capital LLC trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 3.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,455 shares of the medical equipment provider’s stock after selling 449 shares during the period. Townsquare Capital LLC’s holdings in ResMed were worth $3,285,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. OFI Invest Asset Management bought a new position in ResMed in the second quarter worth about $32,000. Ashton Thomas Securities LLC acquired a new stake in shares of ResMed during the 3rd quarter worth approximately $34,000. Versant Capital Management Inc lifted its holdings in shares of ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new position in ResMed during the 2nd quarter valued at approximately $37,000. Finally, Blue Trust Inc. grew its stake in ResMed by 182.7% during the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 137 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RMD has been the topic of a number of recent research reports. Royal Bank of Canada raised their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Bank of America boosted their target price on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Robert W. Baird raised their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Baird R W upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $225.70.

ResMed Price Performance

Shares of RMD opened at $249.26 on Friday. The business’s 50-day moving average is $242.24 and its 200-day moving average is $225.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The company has a market capitalization of $36.59 billion, a price-to-earnings ratio of 33.01, a P/E/G ratio of 1.81 and a beta of 0.69. ResMed Inc. has a fifty-two week low of $156.39 and a fifty-two week high of $260.49.

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

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 yield of 0.85%. ResMed’s payout ratio is 28.08%.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Monday, October 7th. The stock was 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 directly owns 464,169 shares in the company, valued at $107,645,432.79. The trade was a 3.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares in the company, valued at $5,502,777.28. This represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,334 shares of company stock worth $16,379,713 over the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

ResMed Company 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.