Oppenheimer Asset Management Inc. Sells 188 Shares of ResMed Inc. (NYSE:RMD)

Oppenheimer Asset Management Inc. cut its holdings in ResMed Inc. (NYSE:RMD) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,989 shares of the medical equipment provider’s stock after selling 188 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ResMed were worth $2,439,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. OFI Invest Asset Management bought a new position in shares of ResMed during the second quarter valued at $32,000. Ashton Thomas Securities LLC purchased a new position in ResMed in the 3rd quarter worth about $34,000. Versant Capital Management Inc lifted its stake in ResMed by 196.7% during the 2nd 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 during the period. Financial Connections Group Inc. purchased a new stake in shares of ResMed during the 2nd quarter valued at about $37,000. Finally, Blue Trust Inc. grew its stake in shares of ResMed by 182.7% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 137 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RMD has been the topic of a number of research analyst reports. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. KeyCorp increased their price target on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. Baird R W raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Robert W. Baird raised their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.70.

ResMed Stock Up 1.4 %

RMD stock opened at $234.74 on Friday. The business’s 50-day moving average price is $242.83 and its 200-day moving average price is $223.55. The stock has a market cap of $34.46 billion, a P/E ratio of 31.09, a PEG ratio of 1.71 and a beta of 0.69. ResMed Inc. has a twelve month low of $147.39 and a twelve month high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 earnings per share. On average, equities research analysts forecast that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. ResMed’s payout ratio is presently 28.08%.

Insider Buying and Selling at ResMed

In related news, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares in the company, valued at approximately $5,502,777.28. This represents a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares in the company, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,056 shares of company stock valued at $15,086,020 over the last ninety days. 0.71% of the stock is currently owned by company insiders.

About ResMed

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.