ResMed Inc. (NYSE:RMD) Shares Sold by Coastline Trust Co

Coastline Trust Co cut its holdings in ResMed Inc. (NYSE:RMDFree Report) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,106 shares of the medical equipment provider’s stock after selling 175 shares during the quarter. Coastline Trust Co’s holdings in ResMed were worth $534,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RMD. Ascent Group LLC raised its position in shares of ResMed by 2.3% during the 3rd quarter. Ascent Group LLC now owns 1,995 shares of the medical equipment provider’s stock valued at $446,000 after buying an additional 45 shares during the period. Ossiam raised its position in ResMed by 2.4% in the first quarter. Ossiam now owns 1,919 shares of the medical equipment provider’s stock valued at $420,000 after purchasing an additional 45 shares during the period. SeaCrest Wealth Management LLC lifted its stake in shares of ResMed by 3.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,400 shares of the medical equipment provider’s stock valued at $291,000 after purchasing an additional 48 shares during the last quarter. Capital Impact Advisors LLC lifted its stake in shares of ResMed by 3.0% in the 4th quarter. Capital Impact Advisors LLC now owns 1,916 shares of the medical equipment provider’s stock valued at $399,000 after purchasing an additional 56 shares during the last quarter. Finally, Dearborn Partners LLC grew its holdings in shares of ResMed by 3.8% during the 3rd quarter. Dearborn Partners LLC now owns 1,577 shares of the medical equipment provider’s stock worth $344,000 after purchasing an additional 57 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RMD. Oppenheimer upped their target price on shares of ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. KeyCorp initiated coverage on shares of ResMed in a research report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price objective for the company. UBS Group boosted their target price on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Needham & Company LLC raised their price target on ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada boosted their price objective on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $199.20.

View Our Latest Stock Report on ResMed

ResMed Price Performance

RMD stock opened at $184.37 on Wednesday. The business has a 50 day moving average price of $186.61 and a 200 day moving average price of $166.71. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. The stock has a market cap of $27.12 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 2.34 and a beta of 0.67. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $243.52.

ResMed (NYSE:RMDGet Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.07. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 EPS. Equities research analysts anticipate that ResMed Inc. will post 7.45 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, February 7th. ResMed’s payout ratio is 31.74%.

Insider Transactions at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,216 shares of company stock worth $2,046,617. Corporate insiders own 1.21% of the company’s stock.

About ResMed

(Free Report)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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