MAI Capital Management Sells 327 Shares of ResMed Inc. (NYSE:RMD)

MAI Capital Management lessened its stake in shares of ResMed Inc. (NYSE:RMD) by 14.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,874 shares of the medical equipment provider’s stock after selling 327 shares during the period. MAI Capital Management’s holdings in ResMed were worth $458,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in RMD. OFI Invest Asset Management purchased a new position in ResMed during the 2nd quarter valued at approximately $32,000. Ashton Thomas Securities LLC purchased a new position in shares of ResMed in the third quarter valued at $34,000. Versant Capital Management Inc increased its position in ResMed by 196.7% in the second 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 last quarter. Financial Connections Group Inc. purchased a new stake in ResMed during the second quarter valued at $37,000. Finally, Blue Trust Inc. lifted its position in 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 purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 0.1 %

Shares of NYSE:RMD opened at $243.78 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $241.86 and its 200 day moving average is $224.42. The stock has a market cap of $35.79 billion, a P/E ratio of 32.29, a price-to-earnings-growth ratio of 1.73 and a beta of 0.69. ResMed Inc. has a 52-week low of $151.95 and a 52-week high of $260.49.

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

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. ResMed’s payout ratio is presently 28.08%.

Analysts Set New Price Targets

RMD has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Royal Bank of Canada upped their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Robert W. Baird boosted their target price on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. KeyCorp raised their price target on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $225.70.

Insider Activity

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the sale, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. This trade represents a 18.67 % decrease in their position. 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 the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,174 shares of company stock worth $14,882,278. 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.