ResMed Inc. (NYSE:RMD) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,579 shares of the medical equipment provider’s stock after selling 1,594 shares during the period. Bahl & Gaynor Inc.’s holdings in ResMed were worth $8,823,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC raised its position in shares of ResMed by 2,200.0% during the 3rd 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 in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of ResMed in the 3rd quarter worth approximately $34,000. BankPlus Trust Department bought a new stake in shares of ResMed in the 4th quarter worth approximately $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed in the 4th quarter worth approximately $54,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of ResMed in the 3rd quarter worth approximately $60,000. 54.98% of the stock is currently owned by institutional investors.

ResMed Price Performance

NYSE RMD opened at $231.31 on Wednesday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $237.07 and a 200 day simple moving average of $240.02. The company has a market cap of $33.97 billion, a P/E ratio of 27.31, a P/E/G ratio of 1.53 and a beta of 0.70. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05.

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

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is currently 25.03%.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,289,265. This represents a 48.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,186 shares of company stock valued at $4,541,226. Company insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RMD shares. Stifel Nicolaus started coverage on shares of ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $270.00 to $286.00 and gave the company 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. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Finally, KeyCorp boosted their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.