Applied Finance Capital Management LLC Sells 1,648 Shares of ResMed Inc. (NYSE:RMD)

Applied Finance Capital Management LLC trimmed its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 35.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,956 shares of the medical equipment provider's stock after selling 1,648 shares during the period. Applied Finance Capital Management LLC's holdings in ResMed were worth $676,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Invesco Ltd. boosted its holdings in ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after purchasing an additional 566,046 shares during the last quarter. Norges Bank acquired a new position in shares of ResMed during the 4th quarter worth about $118,605,000. Geode Capital Management LLC grew its holdings in shares of ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock valued at $939,114,000 after acquiring an additional 380,383 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of ResMed by 60.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider's stock valued at $152,973,000 after acquiring an additional 250,746 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of ResMed in the fourth quarter valued at about $50,364,000. 54.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on RMD. Morgan Stanley started coverage on ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price target for the company. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research note on Friday, January 31st. Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. Stifel Nicolaus cut their price target on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and a consensus price target of $249.73.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,013 shares of company stock valued at $11,298,816. Company insiders own 0.71% of the company's stock.

ResMed Stock Performance

Shares of RMD traded down $0.03 during mid-day trading on Monday, hitting $213.96. 350,791 shares of the company's stock were exchanged, compared to its average volume of 1,019,412. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a market cap of $31.42 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. The stock's 50-day simple moving average is $225.64 and its 200-day simple moving average is $235.39. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts' consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed's payout ratio is presently 25.03%.

ResMed Company 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.