ResMed Inc. (NYSE:RMD) Position Lowered by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC reduced its position in ResMed Inc. (NYSE:RMD) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,977 shares of the medical equipment provider’s stock after selling 56 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in ResMed were worth $3,301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMD. OFI Invest Asset Management bought a new stake in shares of ResMed in the 4th quarter valued at approximately $39,000. BankPlus Trust Department bought a new stake in ResMed during the fourth quarter valued at $44,000. Rosenberg Matthew Hamilton acquired a new stake in shares of ResMed during the fourth quarter worth $54,000. SBI Securities Co. Ltd. bought a new position in shares of ResMed in the 4th quarter worth about $67,000. Finally, Kentucky Trust Co acquired a new position in shares of ResMed in the 4th quarter valued at about $82,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $222.78 on Thursday. The firm has a market capitalization of $32.72 billion, a PE ratio of 26.30, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company’s 50 day simple moving average is $232.37 and its 200 day simple moving average is $237.54.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RMD shares. KeyCorp raised their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group assumed coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average price target of $249.73.

Insider Transactions at ResMed

In other news, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock valued at $9,164,385 in the last three months. 0.71% of the stock is currently owned by corporate insiders.

ResMed 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.