Tandem Investment Advisors Inc. Cuts Stock Holdings in ResMed Inc. (NYSE:RMD)

Tandem Investment Advisors Inc. lowered its holdings in ResMed Inc. (NYSE:RMD) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 496,660 shares of the medical equipment provider’s stock after selling 4,731 shares during the quarter. ResMed comprises approximately 4.6% of Tandem Investment Advisors Inc.’s investment portfolio, making the stock its 2nd largest holding. Tandem Investment Advisors Inc. owned about 0.34% of ResMed worth $121,245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of ResMed during the second quarter worth about $32,000. Versant Capital Management Inc raised its stake in shares of ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the last quarter. Financial Connections Group Inc. bought a new position in shares of ResMed in the second quarter valued at approximately $37,000. Blue Trust Inc. boosted its position in shares of ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 137 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in ResMed during the second quarter worth $44,000. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on RMD shares. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Robert W. Baird raised their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Bank of America upped their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Wolfe Research reissued an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.70.

ResMed Trading Up 1.4 %

Shares of RMD opened at $248.42 on Friday. ResMed Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $260.49. The business has a 50-day moving average of $243.12 and a 200 day moving average of $221.39. The firm has a market cap of $36.47 billion, a P/E ratio of 32.90, a price-to-earnings-growth ratio of 1.78 and a beta of 0.69. 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 (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $1.64 earnings per share. As a group, research analysts forecast 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. Shareholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. ResMed’s dividend payout ratio is currently 28.08%.

Insider Transactions at ResMed

In related news, insider Kaushik Ghoshal sold 4,260 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the sale, the insider now directly owns 21,788 shares in the company, valued at approximately $5,196,002.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of ResMed stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the transaction, the insider now owns 21,788 shares of the company’s stock, valued at $5,196,002.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $233.47, for a total value of $233,470.00. Following the sale, the chief financial officer now owns 95,812 shares in the company, valued at approximately $22,369,227.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,260 shares of company stock valued at $14,390,487 over the last three months. Company insiders own 0.71% of the company’s stock.

About ResMed

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.