Confluence Investment Management LLC Sells 1,868 Shares of ResMed Inc. (NYSE:RMD)

Confluence Investment Management LLC reduced its holdings in ResMed Inc. (NYSE:RMD) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 126,864 shares of the medical equipment provider’s stock after selling 1,868 shares during the quarter. Confluence Investment Management LLC owned about 0.09% of ResMed worth $30,970,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. OFI Invest Asset Management bought a new stake in ResMed in the second quarter valued at $32,000. Versant Capital Management Inc lifted its position in shares of ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the period. Financial Connections Group Inc. bought a new stake in shares of ResMed during the 2nd quarter valued at about $37,000. Blue Trust Inc. increased its position in shares of ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 137 shares during the period. Finally, Rothschild Investment LLC bought a new position in ResMed in the second quarter worth about $44,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

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 value of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares in the company, valued at $2,428,272. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael J. Rider sold 882 shares of ResMed 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 owns 10,512 shares in the company, valued at $2,428,272. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,260 shares of company stock worth $14,390,487. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

RMD has been the topic of several research reports. Bank of America lifted their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wolfe Research restated 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 price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

ResMed Stock Up 1.4 %

RMD stock opened at $248.42 on Friday. The stock has a market capitalization of $36.47 billion, a P/E ratio of 32.90, a P/E/G ratio of 1.78 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. ResMed Inc. has a 1-year low of $140.81 and a 1-year high of $260.49. The business has a fifty day moving average price of $243.12 and a 200-day moving average price of $221.39.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) 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 business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business earned $1.64 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts forecast that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

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.