Tiverton Asset Management LLC Sells 2,450 Shares of ResMed Inc. (NYSE:RMD)

Tiverton Asset Management LLC trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 33.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,807 shares of the medical equipment provider’s stock after selling 2,450 shares during the quarter. Tiverton Asset Management LLC’s holdings in ResMed were worth $587,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RMD. Westside Investment Management Inc. purchased a new stake in ResMed in the second quarter worth approximately $26,000. Steward Partners Investment Advisory LLC bought a new position in shares of ResMed during the 2nd quarter valued at $40,000. RPg Family Wealth Advisory LLC bought a new position in shares of ResMed during the 1st quarter valued at $50,000. SRS Capital Advisors Inc. bought a new position in shares of ResMed during the 2nd quarter valued at $71,000. Finally, Van ECK Associates Corp purchased a new position in shares of ResMed in the 2nd quarter worth $73,000. 66.94% of the stock is currently owned by institutional investors.

In related news, CFO Brett Sandercock sold 3,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $123.17, for a total value of $369,510.00. Following the sale, the chief financial officer now directly owns 76,514 shares of the company’s stock, valued at approximately $9,424,229.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Pendarvis sold 4,367 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $138.11, for a total transaction of $603,126.37. Following the completion of the sale, the insider now directly owns 126,618 shares in the company, valued at $17,487,211.98. The disclosure for this sale can be found here. Insiders sold a total of 67,673 shares of company stock valued at $8,692,592 in the last 90 days. Company insiders own 1.24% of the company’s stock.

RMD has been the subject of several research analyst reports. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Monday, July 8th. UBS Group raised ResMed from a “neutral” rating to a “buy” rating and increased their target price for the company from $122.00 to $140.00 in a report on Monday, July 29th. Finally, Goldman Sachs Group raised ResMed from a “neutral” rating to a “buy” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. ResMed has an average rating of “Buy” and an average target price of $121.50.

Shares of NYSE RMD traded down $2.54 during trading hours on Tuesday, hitting $132.57. 14,420 shares of the company traded hands, compared to its average volume of 417,878. The company’s 50 day moving average price is $132.98 and its 200 day moving average price is $115.92. ResMed Inc. has a 12 month low of $90.64 and a 12 month high of $141.25. The stock has a market capitalization of $20.16 billion, a price-to-earnings ratio of 36.51, a price-to-earnings-growth ratio of 3.38 and a beta of 0.44. The company has a current ratio of 2.06, a quick ratio of 1.43 and a debt-to-equity ratio of 0.61.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.03. The company had revenue of $705.00 million during the quarter, compared to the consensus estimate of $701.56 million. ResMed had a return on equity of 26.49% and a net margin of 15.52%. ResMed’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the company earned $0.95 earnings per share. Equities analysts anticipate that ResMed Inc. will post 3.92 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be paid a $0.39 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $1.56 annualized dividend and a dividend yield of 1.18%. This is an increase from ResMed’s previous quarterly dividend of $0.37. ResMed’s dividend payout ratio is currently 42.86%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, 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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