ResMed Inc. (NYSE:RMD) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lessened its position in shares of ResMed Inc. (NYSE:RMD) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 310,540 shares of the medical equipment provider’s stock after selling 6,862 shares during the period. Welch & Forbes LLC’s holdings in ResMed were worth $53,419,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. Handelsbanken Fonder AB increased its position in shares of ResMed by 22.5% in the fourth quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after acquiring an additional 12,899 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in ResMed by 13.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock valued at $7,781,000 after purchasing an additional 5,517 shares in the last quarter. Vaughan David Investments LLC IL purchased a new position in ResMed in the fourth quarter valued at about $29,322,000. ICW Investment Advisors LLC lifted its stake in shares of ResMed by 2.3% during the fourth quarter. ICW Investment Advisors LLC now owns 11,303 shares of the medical equipment provider’s stock worth $1,944,000 after purchasing an additional 249 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of ResMed by 11,960.3% in the fourth quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock valued at $3,817,000 after buying an additional 22,007 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

NYSE:RMD traded down $0.04 during mid-day trading on Monday, hitting $216.94. The stock had a trading volume of 842,076 shares, compared to its average volume of 1,072,503. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $191.19 and a 200-day simple moving average of $175.51. The stock has a market capitalization of $31.87 billion, a price-to-earnings ratio of 33.32, a P/E/G ratio of 2.68 and a beta of 0.64. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $237.26.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts expect that ResMed Inc. will post 7.59 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 0.89%. ResMed’s payout ratio is 29.49%.

Insider Activity

In related news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Karen Drexler sold 425 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the sale, the director now owns 8,446 shares of the company’s stock, valued at approximately $1,815,214.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,641 shares of company stock valued at $2,137,958. Company insiders own 1.21% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on RMD. UBS Group boosted their price target on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Mizuho reissued a “buy” rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Oppenheimer decreased their price objective on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Needham & Company LLC increased their target price on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada lifted their price objective on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $202.80.

About ResMed

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.