ResMed Inc. (NYSE:RMD) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its stake in ResMed Inc. (NYSE:RMD) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,487 shares of the medical equipment provider’s stock after selling 10,020 shares during the quarter. Janney Montgomery Scott LLC owned about 0.05% of ResMed worth $17,263,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Sei Investments Co. grew its position in ResMed by 68.1% during the second quarter. Sei Investments Co. now owns 36,501 shares of the medical equipment provider’s stock valued at $6,987,000 after acquiring an additional 14,793 shares during the period. Public Sector Pension Investment Board grew its holdings in shares of ResMed by 74.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 5,632 shares of the medical equipment provider’s stock worth $1,078,000 after purchasing an additional 2,398 shares during the period. Evergreen Capital Management LLC grew its holdings in shares of ResMed by 36.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,402 shares of the medical equipment provider’s stock worth $268,000 after purchasing an additional 378 shares during the period. AQR Capital Management LLC raised its holdings in ResMed by 20.6% in the second quarter. AQR Capital Management LLC now owns 172,783 shares of the medical equipment provider’s stock valued at $33,074,000 after buying an additional 29,538 shares during the period. Finally, APG Asset Management N.V. lifted its position in ResMed by 42.2% during the second quarter. APG Asset Management N.V. now owns 142,551 shares of the medical equipment provider’s stock valued at $25,460,000 after buying an additional 42,332 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RMD shares. KeyCorp raised their target price on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird upped their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group started coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.40.

Insider Activity at ResMed

In other news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the completion of the transaction, the director now directly owns 83,204 shares of the company’s stock, valued at $20,696,162.96. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,099 shares of company stock worth $2,719,385 in the last ninety days. 0.71% of the stock is owned by insiders.

ResMed Stock Performance

Shares of RMD stock opened at $250.32 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 has a 50 day moving average of $239.25 and a two-hundred day moving average of $234.40. The company has a market cap of $36.75 billion, a P/E ratio of 33.15, a PEG ratio of 1.78 and a beta of 0.70. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $260.49.

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 analysts’ consensus estimates of $2.03 by $0.17. The company 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 firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $1.64 earnings per share. As a group, analysts anticipate that ResMed Inc. will post 9.35 EPS for the current year.

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.