Rhumbline Advisers Decreases Stake in ResMed Inc. (NYSE:RMD)

Rhumbline Advisers lessened its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 295,135 shares of the medical equipment provider's stock after selling 13,536 shares during the quarter. Rhumbline Advisers owned approximately 0.20% of ResMed worth $67,494,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in shares of ResMed in the 3rd quarter valued at about $119,000. Creative Planning increased its position in shares of ResMed by 15.4% in the third quarter. Creative Planning now owns 28,021 shares of the medical equipment provider's stock valued at $6,840,000 after buying an additional 3,739 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of ResMed by 8.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 3,662 shares of the medical equipment provider's stock worth $894,000 after buying an additional 288 shares during the period. Bleakley Financial Group LLC lifted its position in shares of ResMed by 3.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,234 shares of the medical equipment provider's stock valued at $545,000 after buying an additional 78 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in ResMed by 2.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,548 shares of the medical equipment provider's stock valued at $3,796,000 after acquiring an additional 313 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of ResMed in a research report on Thursday, January 16th. They set a "buy" rating for the company. Royal Bank of Canada upped their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Stifel Nicolaus initiated coverage on ResMed in a research report on Friday, December 13th. They issued a "hold" rating and a $250.00 target price on the stock. Finally, KeyCorp boosted their price target on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $244.73.

ResMed Trading Up 1.2 %

Shares of RMD traded up $2.82 during trading on Wednesday, reaching $233.40. 452,332 shares of the company traded hands, compared to its average volume of 962,339. The stock has a 50-day simple moving average of $237.99 and a 200-day simple moving average of $239.04. The stock has a market cap of $34.28 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 1.54 and a beta of 0.70. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating 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, analysts anticipate that ResMed Inc. will post 9.44 earnings per share 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 $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. ResMed's dividend payout ratio is presently 25.03%.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 2,000 shares of the 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 sale, the director now owns 81,218 shares of the company's stock, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares of the company's stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,307 shares of company stock valued at $4,403,180. Corporate insiders own 0.71% of the company's stock.

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.