Integrated Wealth Concepts LLC Sells 1,126 Shares of ResMed Inc. (NYSE:RMD)

Integrated Wealth Concepts LLC trimmed its position in ResMed Inc. (NYSE:RMD) by 53.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 998 shares of the medical equipment provider’s stock after selling 1,126 shares during the period. Integrated Wealth Concepts LLC’s holdings in ResMed were worth $244,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. True Wealth Design LLC boosted its holdings in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the last quarter. OFI Invest Asset Management bought a new position in ResMed in the second quarter worth approximately $32,000. Ashton Thomas Securities LLC purchased a new position in shares of ResMed during the 3rd quarter worth $34,000. Financial Connections Group Inc. purchased a new position in shares of ResMed during the 2nd quarter worth $37,000. Finally, Blue Trust Inc. grew its position in shares of ResMed by 182.7% during the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 137 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RMD. Bank of America raised their target price on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus began coverage on ResMed in a research note on Friday. They set a “hold” rating and a $250.00 price objective for the company. Royal Bank of Canada raised their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, KeyCorp upped their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have given 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $227.91.

Insider Activity

In related news, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The shares were 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 owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the sale, the director now directly owns 81,218 shares in the company, valued at $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,725 shares of company stock worth $11,253,448. 0.71% of the stock is currently owned by insiders.

ResMed Stock Performance

Shares of NYSE RMD opened at $238.52 on Friday. The company has a market cap of $35.01 billion, a P/E ratio of 31.70, a P/E/G ratio of 1.78 and a beta of 0.68. ResMed Inc. has a 52-week low of $164.12 and a 52-week high of $260.49. 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 firm’s fifty day moving average is $242.65 and its two-hundred day moving average is $227.27.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 earnings per share. As a group, analysts anticipate that ResMed Inc. will post 9.34 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. ResMed’s dividend payout ratio (DPR) is 28.08%.

ResMed Company 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.