ResMed Inc. (NYSE:RMD) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC lessened its stake in ResMed Inc. (NYSE:RMD) by 9.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 768 shares of the medical equipment provider’s stock after selling 83 shares during the quarter. Sentry Investment Management LLC’s holdings in ResMed were worth $132,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RMD. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ResMed by 13.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock valued at $7,781,000 after purchasing an additional 5,517 shares during the period. Vaughan David Investments LLC IL acquired a new stake in ResMed during the 4th quarter worth $29,322,000. Synergy Asset Management LLC grew its position in ResMed by 29.2% during the 4th quarter. Synergy Asset Management LLC now owns 69,383 shares of the medical equipment provider’s stock worth $11,935,000 after purchasing an additional 15,663 shares during the last quarter. Inspire Advisors LLC increased its stake in ResMed by 20.2% in the third quarter. Inspire Advisors LLC now owns 1,553 shares of the medical equipment provider’s stock valued at $230,000 after purchasing an additional 261 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of ResMed by 3.4% during the fourth quarter. Nordea Investment Management AB now owns 9,753 shares of the medical equipment provider’s stock worth $1,682,000 after buying an additional 324 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock valued at $2,046,617 in the last quarter. Company insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Needham & Company LLC boosted their target price on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a report on Monday, April 1st. UBS Group lifted their price objective on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. KeyCorp began coverage on shares of ResMed in a report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price target on the stock. Royal Bank of Canada increased their price objective on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. Finally, Oppenheimer lifted their target price on shares of ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.20.

ResMed Stock Down 6.0 %

RMD opened at $173.86 on Thursday. The firm has a 50 day moving average price of $186.42 and a 200 day moving average price of $170.17. The company has a market cap of $25.57 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $243.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11.

ResMed (NYSE:RMD) last announced its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $1.66 EPS. The company’s revenue was up 12.5% on a year-over-year basis. Sell-side analysts expect that ResMed Inc. will post 7.46 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Wednesday, February 7th. ResMed’s payout ratio is 31.74%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.