ResMed Inc. (NYSE:RMD) Shares Sold by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. reduced its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 496,660 shares of the medical equipment provider's stock after selling 4,731 shares during the quarter. ResMed comprises 4.6% of Tandem Investment Advisors Inc.'s investment portfolio, making the stock its 2nd biggest holding. Tandem Investment Advisors Inc. owned 0.34% of ResMed worth $121,245,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Norden Group LLC raised its holdings in shares of ResMed by 85.0% in the first quarter. Norden Group LLC now owns 2,590 shares of the medical equipment provider's stock worth $513,000 after acquiring an additional 1,190 shares during the last quarter. Empirical Finance LLC raised its holdings in shares of ResMed by 3.5% in the first quarter. Empirical Finance LLC now owns 5,232 shares of the medical equipment provider's stock worth $1,036,000 after acquiring an additional 179 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of ResMed by 1.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider's stock worth $631,000 after acquiring an additional 60 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of ResMed by 88.8% in the first quarter. Empowered Funds LLC now owns 2,764 shares of the medical equipment provider's stock worth $547,000 after acquiring an additional 1,300 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of ResMed by 211.1% in the first quarter. SG Americas Securities LLC now owns 19,625 shares of the medical equipment provider's stock worth $3,886,000 after acquiring an additional 13,316 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Up 1.5 %

Shares of NYSE:RMD traded up $3.72 during trading on Friday, hitting $252.26. The company's stock had a trading volume of 930,159 shares, compared to its average volume of 1,050,988. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $260.49. The stock's 50-day moving average price is $243.36 and its two-hundred day moving average price is $222.08. The company has a market capitalization of $37.03 billion, a PE ratio of 33.41, a PEG ratio of 1.80 and a beta of 0.69.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. ResMed's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that ResMed Inc. will post 9.22 EPS for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed's dividend payout ratio (DPR) is presently 28.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RMD. KeyCorp lifted their price objective on ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Bank of America lifted their price objective on ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research report on Friday, October 25th. Baird R W raised ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. Finally, Robert W. Baird boosted their price target on ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and an average target price of $225.70.

Insider Activity

In other news, insider Kaushik Ghoshal sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company's stock, valued at approximately $5,502,777.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company's stock, valued at $5,502,777.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Michael J. Rider sold 882 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the transaction, the general counsel now directly owns 10,512 shares of the company's stock, valued at $2,428,272. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,260 shares of company stock valued at $14,887,967. 0.71% of the stock is currently owned by insiders.

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.