Bahl & Gaynor Inc. Sells 1,594 Shares of ResMed Inc. (NYSE:RMD)

Bahl & Gaynor Inc. trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 4.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 38,579 shares of the medical equipment provider’s stock after selling 1,594 shares during the quarter. Bahl & Gaynor Inc.’s holdings in ResMed were worth $8,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC lifted its holdings in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of ResMed during the 3rd quarter worth about $34,000. BankPlus Trust Department bought a new position in shares of ResMed during the 4th quarter worth about $44,000. Rosenberg Matthew Hamilton bought a new position in shares of ResMed during the 4th quarter worth about $54,000. Finally, Capital Performance Advisors LLP bought a new position in shares of ResMed during the 3rd quarter worth about $60,000. 54.98% of the stock is owned by institutional investors.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the sale, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. This represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,186 shares of company stock worth $4,541,226 in the last quarter. 0.71% of the stock is owned by company insiders.

ResMed Trading Down 0.8 %

RMD opened at $231.31 on Wednesday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $33.97 billion, a PE ratio of 27.31, a PEG ratio of 1.53 and a beta of 0.70. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. The firm has a 50-day moving average price of $237.07 and a two-hundred day moving average price of $240.02.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is 25.03%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. KeyCorp increased their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus assumed coverage on shares of ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

ResMed 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.