Summit Trail Advisors LLC Sells 197 Shares of ResMed Inc. (NYSE:RMD)

Summit Trail Advisors LLC reduced its stake in ResMed Inc. (NYSE:RMD) by 13.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,227 shares of the medical equipment provider’s stock after selling 197 shares during the quarter. Summit Trail Advisors LLC’s holdings in ResMed were worth $211,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Handelsbanken Fonder AB grew its stake in ResMed by 22.5% in the fourth quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after purchasing an additional 12,899 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of ResMed by 13.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock worth $7,781,000 after buying an additional 5,517 shares in the last quarter. Vaughan David Investments LLC IL purchased a new position in shares of ResMed during the fourth quarter valued at $29,322,000. ICW Investment Advisors LLC raised its holdings in shares of ResMed by 2.3% in the fourth quarter. ICW Investment Advisors LLC now owns 11,303 shares of the medical equipment provider’s stock valued at $1,944,000 after acquiring an additional 249 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in ResMed by 647.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 13,491 shares of the medical equipment provider’s stock worth $2,321,000 after acquiring an additional 11,685 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen Drexler sold 425 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the sale, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 11,641 shares of company stock worth $2,137,958 over the last 90 days. 1.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. KeyCorp boosted their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. UBS Group increased their target price on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Oppenheimer reduced their price target on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, Needham & Company LLC raised their price objective on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.80.

ResMed Stock Performance

RMD opened at $212.89 on Thursday. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $237.26. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The company has a market cap of $31.28 billion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The firm’s 50-day moving average price is $192.67 and its 200-day moving average price is $176.28.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that ResMed Inc. will post 7.59 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 0.90%. ResMed’s dividend payout ratio (DPR) is currently 29.49%.

ResMed Company Profile

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.