Sentry Investment Management LLC Has $122,000 Holdings in ResMed Inc. (NYSE:RMD)

Sentry Investment Management LLC decreased its position in shares of ResMed Inc. (NYSE:RMD) by 17.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 637 shares of the medical equipment provider’s stock after selling 131 shares during the quarter. Sentry Investment Management LLC’s holdings in ResMed were worth $122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RMD. Private Advisor Group LLC acquired a new position in shares of ResMed in the fourth quarter valued at approximately $451,000. Principal Securities Inc. bought a new position in shares of ResMed during the fourth quarter valued at $49,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of ResMed by 713.4% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,277 shares of the medical equipment provider’s stock worth $220,000 after purchasing an additional 1,120 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of ResMed by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider’s stock worth $92,285,000 after purchasing an additional 40,605 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of ResMed by 5.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,128 shares of the medical equipment provider’s stock worth $538,000 after purchasing an additional 171 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In related news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the sale, the insider now owns 18,741 shares in the company, valued at approximately $4,068,108.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the sale, the chief executive officer now owns 440,799 shares in the company, valued at $85,060,983.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,931 shares of company stock valued at $21,382,007. Corporate insiders own 1.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on RMD shares. Needham & Company LLC downgraded ResMed from a “buy” rating to a “hold” rating and set a $236.00 target price on the stock. in a report on Wednesday, September 4th. Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Royal Bank of Canada upped their target price on ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Finally, StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $204.70.

ResMed Stock Performance

Shares of RMD opened at $250.71 on Friday. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The company has a market cap of $36.83 billion, a PE ratio of 38.51, a P/E/G ratio of 2.44 and a beta of 0.69. The stock has a 50-day moving average of $220.87 and a 200-day moving average of $206.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the firm posted $1.60 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that ResMed Inc. will post 8.91 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.53 per share. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.12 annualized dividend and a yield of 0.85%. ResMed’s dividend payout ratio is presently 32.57%.

ResMed Company Profile

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.