Flputnam Investment Management Co. Decreases Stock Holdings in ResMed Inc. (NYSE:RMD)

Flputnam Investment Management Co. lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 24.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,655 shares of the medical equipment provider’s stock after selling 1,781 shares during the period. Flputnam Investment Management Co.’s holdings in ResMed were worth $1,293,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RMD. Howard Capital Management Inc. increased its position in ResMed by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after purchasing an additional 45 shares during the last quarter. Ascent Group LLC increased its position in ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 48 shares during the last quarter. SkyView Investment Advisors LLC increased its position in ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares during the last quarter. Wedmont Private Capital increased its position in ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in shares of ResMed by 3.1% in the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the transaction, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,073 shares of company stock valued at $2,887,326. Company insiders own 0.71% of the company’s stock.

ResMed Trading Up 0.9 %

NYSE RMD opened at $233.32 on Monday. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company has a market capitalization of $34.27 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. The company’s fifty day moving average price is $237.06 and its two-hundred day moving average price is $239.95.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.91%. ResMed’s payout ratio is 25.03%.

Analysts Set New Price Targets

Several research firms have recently issued reports on RMD. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. Finally, Stifel Nicolaus began coverage on shares of ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $244.73.

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.