ST Germain D J Co. Inc. Reduces Position in ResMed Inc. $RMD

by · The Cerbat Gem

ST Germain D J Co. Inc. lessened its holdings in shares of ResMed Inc. (NYSE:RMD – Free Report) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,392 shares of the medical equipment provider’s stock after selling 3,144 shares during the period. ST Germain D J Co. Inc. owned 0.06% of ResMed worth $25,290,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Entropy Technologies LP boosted its stake in shares of ResMed by 188.7% during the second quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock worth $4,227,000 after buying an additional 10,708 shares during the period. Quantbot Technologies LP lifted its position in ResMed by 244.8% during the 2nd quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock worth $9,380,000 after acquiring an additional 25,810 shares during the period. Inspire Investing LLC grew its stake in shares of ResMed by 29.3% in the 1st quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock valued at $6,397,000 after purchasing an additional 6,472 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of ResMed by 0.7% in the second quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock valued at $45,382,000 after purchasing an additional 1,183 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of ResMed by 1.4% during the second quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock worth $4,836,707,000 after purchasing an additional 253,223 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Down 2.2%

Shares of ResMed stock opened at $247.49 on Wednesday. The company has a 50-day moving average of $255.79 and a two-hundred day moving average of $264.00. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07. The stock has a market cap of $36.12 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87.

ResMed (NYSE:RMD – Get Free Report) last posted its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business earned $2.20 earnings per share. ResMed’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s payout ratio is currently 24.56%.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 8,011 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the completion of the sale, the chief executive officer owned 467,866 shares in the company, valued at approximately $116,849,533.50. The trade was a 1.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. Rider sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the sale, the general counsel owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. This represents a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,662 shares of company stock valued at $5,946,466 in the last quarter. Corporate insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on RMD. Wells Fargo & Company initiated coverage on shares of ResMed in a research note on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price objective on the stock. Royal Bank Of Canada lifted their target price on shares of ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Mizuho dropped their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Baird R W cut shares of ResMed from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, CLSA raised ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $297.00.

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About ResMed

(Free Report)

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.

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