W.G. Shaheen & Associates DBA Whitney & Co Sells 6,463 Shares of ResMed Inc. (NYSE:RMD)

W.G. Shaheen & Associates DBA Whitney & Co reduced its holdings in shares of ResMed Inc. (NYSE:RMD) by 11.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,992 shares of the medical equipment provider’s stock after selling 6,463 shares during the quarter. ResMed accounts for about 1.2% of W.G. Shaheen & Associates DBA Whitney & Co’s holdings, making the stock its 28th biggest holding. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in ResMed were worth $11,661,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RMD. Howard Capital Management Inc. grew its position in shares of ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 45 shares during the last quarter. Ascent Group LLC lifted its stake in ResMed by 1.7% in the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after buying an additional 48 shares during the period. SkyView Investment Advisors LLC raised its holdings in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after purchasing an additional 51 shares during the period. Wedmont Private Capital grew its stake in shares of ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after buying an additional 52 shares during the period. Finally, Concurrent Investment Advisors LLC increased its position in ResMed by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after buying an additional 57 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,147 shares of company stock valued at $2,905,745 in the last quarter. 0.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on RMD. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Finally, KeyCorp boosted their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $244.73.

ResMed Trading Down 0.5 %

Shares of NYSE:RMD opened at $231.61 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05. The company has a market cap of $34.02 billion, a P/E ratio of 27.34, a PEG ratio of 1.53 and a beta of 0.70. The stock’s fifty day moving average price is $237.43 and its 200-day moving average price is $239.41.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio is 25.03%.

ResMed Company Profile

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.