ResMed Inc. (NYSE:RMD) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,044 shares of the medical equipment provider’s stock after selling 84 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in ResMed were worth $239,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. True Wealth Design LLC boosted its position in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of ResMed in the third quarter valued at about $34,000. Capital Performance Advisors LLP acquired a new stake in ResMed in the 3rd quarter worth about $60,000. Quest Partners LLC increased its position in shares of ResMed by 44.1% during the second quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 100 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of ResMed by 271.9% during the second quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In other ResMed news, Director Witte Jan De sold 796 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kaushik Ghoshal sold 4,260 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the sale, the insider now owns 21,788 shares in the company, valued at $5,196,002.24. The trade was a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,359 shares of company stock valued at $3,735,309 in the last three months. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Robert W. Baird lifted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Royal Bank of Canada raised their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus initiated coverage on ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $227.91.

ResMed Stock Up 0.5 %

Shares of NYSE:RMD opened at $236.31 on Wednesday. The firm has a market capitalization of $34.69 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 1.73 and a beta of 0.70. ResMed Inc. has a 1 year low of $166.90 and a 1 year high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The firm’s 50-day moving average is $240.32 and its two-hundred day moving average is $230.45.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping 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 firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm earned $1.64 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts predict that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

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.