KFG Wealth Management LLC Sells 119 Shares of ResMed Inc. (NYSE:RMD)

KFG Wealth Management LLC reduced its holdings in shares of ResMed Inc. (NYSE:RMD) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,534 shares of the medical equipment provider’s stock after selling 119 shares during the period. KFG Wealth Management LLC’s holdings in ResMed were worth $502,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC acquired a new position in ResMed during the fourth quarter worth $27,000. Planned Solutions Inc. purchased a new position in shares of ResMed during the 4th quarter valued at $34,000. Riverview Trust Co purchased a new position in ResMed during the first quarter worth about $42,000. MV Capital Management Inc. raised its position in shares of ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 60 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of ResMed in the 4th quarter worth about $45,000. 54.98% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In other ResMed news, Director Witte Jan De sold 360 shares of ResMed stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the transaction, the director now directly owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Karen Drexler sold 425 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the transaction, the director now owns 8,446 shares in the company, valued at $1,815,214.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Witte Jan De sold 360 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the sale, the director now directly owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,151 shares of company stock valued at $6,666,409. 1.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

RMD has been the subject of a number of recent analyst reports. Mizuho reiterated a “buy” rating and set a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. Royal Bank of Canada raised their price objective on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. KeyCorp boosted their target price on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $236.00 target price on shares of ResMed in a research note on Monday, June 24th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $202.80.

ResMed Stock Performance

NYSE:RMD traded up $0.03 during trading hours on Wednesday, hitting $189.38. 383,823 shares of the company were exchanged, compared to its average volume of 1,073,452. The stock has a market capitalization of $27.82 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 1.88 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The company’s 50 day moving average price is $208.71 and its 200-day moving average price is $191.64. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $229.97.

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, topping 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 during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. ResMed’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts forecast that ResMed Inc. will post 7.7 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 9th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.92 annualized dividend and a yield of 1.01%. ResMed’s dividend payout ratio is presently 29.49%.

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.