Hudson Valley Investment Advisors Inc. ADV Sells 903 Shares of ResMed Inc. (NYSE:RMD)

Hudson Valley Investment Advisors Inc. ADV trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,354 shares of the medical equipment provider’s stock after selling 903 shares during the quarter. ResMed accounts for approximately 1.3% of Hudson Valley Investment Advisors Inc. ADV’s investment portfolio, making the stock its 22nd largest holding. Hudson Valley Investment Advisors Inc. ADV’s holdings in ResMed were worth $5,462,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in shares of ResMed by 208.2% in the second quarter. Invesco Ltd. now owns 1,955,124 shares of the medical equipment provider’s stock valued at $238,584,000 after acquiring an additional 1,320,770 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of ResMed by 13,733.4% in the second quarter. Nuveen Asset Management LLC now owns 542,824 shares of the medical equipment provider’s stock valued at $66,241,000 after acquiring an additional 538,900 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of ResMed by 66.9% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 773,844 shares of the medical equipment provider’s stock valued at $94,433,000 after acquiring an additional 310,273 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of ResMed by 1.4% in the second quarter. Vanguard Group Inc. now owns 15,327,232 shares of the medical equipment provider’s stock valued at $1,870,382,000 after acquiring an additional 212,459 shares in the last quarter. Finally, WCM Investment Management LLC raised its holdings in shares of ResMed by 2.2% in the second quarter. WCM Investment Management LLC now owns 7,215,810 shares of the medical equipment provider’s stock valued at $880,545,000 after acquiring an additional 156,013 shares in the last quarter. Institutional investors and hedge funds own 66.46% of the company’s stock.

In other ResMed news, CFO Brett Sandercock sold 3,000 shares of ResMed stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $139.21, for a total value of $417,630.00. Following the transaction, the chief financial officer now owns 76,145 shares in the company, valued at $10,600,145.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard Mchale sold 12,306 shares of ResMed stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $127.06, for a total value of $1,563,600.36. Following the completion of the transaction, the insider now owns 11,215 shares in the company, valued at approximately $1,424,977.90. The disclosure for this sale can be found here. Insiders sold 72,668 shares of company stock worth $9,581,078 in the last quarter. 1.22% of the stock is owned by insiders.

RMD stock opened at $131.21 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.06 and a quick ratio of 1.43. The business has a 50-day moving average price of $134.06 and a 200 day moving average price of $121.86. The company has a market capitalization of $18.92 billion, a P/E ratio of 36.05, a PEG ratio of 3.17 and a beta of 0.41. ResMed Inc. has a 1-year low of $90.64 and a 1-year high of $141.25.

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

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.19%. The ex-dividend date was Wednesday, August 14th. This is a positive change from ResMed’s previous quarterly dividend of $0.37. ResMed’s payout ratio is 42.86%.

Several analysts recently weighed in on the company. ValuEngine downgraded ResMed from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded 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. Goldman Sachs Group upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Monday, July 29th. Finally, UBS Group upgraded ResMed from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $122.00 to $140.00 in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $121.50.

ResMed 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.

Read More: Roth IRA

Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed Inc. (NYSE:RMD).

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.