National Bank of Canada FI Sells 28,530 Shares of ResMed Inc. (NYSE:RMD)

National Bank of Canada FI lowered its position in ResMed Inc. (NYSE:RMD - Free Report) by 42.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,121 shares of the medical equipment provider's stock after selling 28,530 shares during the quarter. National Bank of Canada FI's holdings in ResMed were worth $8,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in ResMed during the fourth quarter worth approximately $39,000. BankPlus Trust Department acquired a new stake in shares of ResMed during the fourth quarter valued at approximately $44,000. Rosenberg Matthew Hamilton purchased a new stake in shares of ResMed in the fourth quarter valued at $54,000. SBI Securities Co. Ltd. acquired a new position in shares of ResMed in the 4th quarter valued at about $67,000. Finally, Kentucky Trust Co acquired a new position in shares of ResMed in the fourth quarter worth $82,000. Institutional investors own 54.98% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on RMD. The Goldman Sachs Group initiated coverage on shares of ResMed in a research report on Thursday, January 16th. They set a "buy" rating on the stock. JPMorgan Chase & Co. raised their price objective on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. KeyCorp increased their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. Finally, StockNews.com downgraded shares of ResMed from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, ResMed presently has an average rating of "Moderate Buy" and a consensus price target of $249.73.

ResMed Stock Down 3.4 %

NYSE:RMD traded down $7.32 on Thursday, hitting $209.12. 253,716 shares of the company's stock were exchanged, compared to its average volume of 1,012,914. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The company has a market cap of $30.71 billion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. 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 firm has a 50-day moving average price of $226.80 and a 200-day moving average price of $235.88.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal 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 1.01%. The ex-dividend date was Thursday, February 13th. ResMed's payout ratio is 25.03%.

Insider Transactions at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the sale, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the sale, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $95,580,799.20. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,013 shares of company stock worth $11,298,816. Company insiders own 0.71% of the company's stock.

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.