ResMed Inc. (NYSE:RMD) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC decreased its holdings in ResMed Inc. (NYSE:RMD) by 58.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,301 shares of the medical equipment provider’s stock after selling 1,820 shares during the quarter. NorthRock Partners LLC’s holdings in ResMed were worth $318,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RMD. OFI Invest Asset Management acquired a new position in shares of ResMed in the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc raised its holdings in ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares in the last quarter. Financial Connections Group Inc. bought a new position in ResMed during the 2nd quarter valued at $37,000. Blue Trust Inc. grew its holdings in ResMed by 182.7% during the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 137 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of ResMed in the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

RMD stock opened at $245.63 on Thursday. ResMed Inc. has a 1 year low of $140.81 and a 1 year high of $260.49. The stock has a market capitalization of $36.06 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 1.78 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The stock’s fifty day moving average is $243.12 and its two-hundred day moving average is $221.39.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted $1.64 EPS. ResMed’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts predict that ResMed Inc. will post 9.22 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.86%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio is currently 28.08%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RMD shares. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Royal Bank of Canada increased their target price on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, KeyCorp boosted their target price on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.70.

Insider Buying and Selling at ResMed

In other news, General Counsel Michael J. Rider sold 882 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Michael J. Rider sold 882 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the sale, the general counsel now owns 10,512 shares of the company’s stock, valued at $2,428,272. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $115,290,296.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,260 shares of company stock valued at $14,390,487 in the last quarter. Corporate insiders own 0.71% of the company’s stock.

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.