CENTRAL TRUST Co Has $232,000 Stock Position in ResMed Inc. (NYSE:RMD)

CENTRAL TRUST Co reduced its position in ResMed Inc. (NYSE:RMD) by 8.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,170 shares of the medical equipment provider’s stock after selling 114 shares during the period. CENTRAL TRUST Co’s holdings in ResMed were worth $232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC acquired a new position in ResMed during the fourth quarter worth $27,000. Hall Laurie J Trustee bought a new stake in shares of ResMed during the 1st quarter worth about $32,000. EverSource Wealth Advisors LLC increased its holdings in shares of ResMed by 224.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 128 shares during the last quarter. Planned Solutions Inc. bought a new position in shares of ResMed in the 4th quarter valued at approximately $34,000. Finally, Riverview Trust Co acquired a new stake in ResMed in the 1st quarter worth approximately $42,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RMD has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price target on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, April 26th. KeyCorp raised their price target on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Royal Bank of Canada boosted their price objective on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. UBS Group raised their target price on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Finally, Oppenheimer cut their price target on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.80.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total value of $3,178,869.50. Following the completion of the transaction, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at approximately $95,422,808. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the sale, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at approximately $95,422,808. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,684 shares of company stock valued at $5,395,412. 1.21% of the stock is currently owned by corporate insiders.

ResMed Stock Performance

Shares of RMD traded down $0.01 on Wednesday, reaching $218.27. 555,300 shares of the stock traded hands, compared to its average volume of 1,023,450. The firm has a market cap of $32.07 billion, a price-to-earnings ratio of 33.53, a P/E/G ratio of 2.69 and a beta of 0.64. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $229.97. The stock’s 50-day moving average price is $199.30 and its 200-day moving average price is $181.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.68 EPS. Equities analysts forecast that ResMed Inc. will post 7.64 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s dividend payout ratio is 29.49%.

ResMed Profile

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.