W.G. Shaheen & Associates DBA Whitney & Co Boosts Holdings in ResMed Inc. $RMD

W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in ResMed Inc. (NYSE:RMD) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,531 shares of the medical equipment provider’s stock after buying an additional 1,043 shares during the quarter. ResMed accounts for about 1.4% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 24th largest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in ResMed were worth $13,811,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Telos Capital Management Inc. boosted its holdings in shares of ResMed by 0.7% in the second quarter. Telos Capital Management Inc. now owns 30,721 shares of the medical equipment provider’s stock worth $7,926,000 after buying an additional 216 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of ResMed by 0.5% in the second quarter. State of Michigan Retirement System now owns 41,511 shares of the medical equipment provider’s stock worth $10,710,000 after buying an additional 200 shares during the last quarter. Versor Investments LP boosted its holdings in shares of ResMed by 23.2% in the second quarter. Versor Investments LP now owns 2,220 shares of the medical equipment provider’s stock worth $573,000 after buying an additional 418 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of ResMed by 6.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 33,477 shares of the medical equipment provider’s stock worth $8,637,000 after buying an additional 1,925 shares during the last quarter. Finally, Welch & Forbes LLC boosted its holdings in shares of ResMed by 0.5% in the second quarter. Welch & Forbes LLC now owns 331,578 shares of the medical equipment provider’s stock worth $85,547,000 after buying an additional 1,686 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. KeyCorp raised their price objective on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a report on Friday. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ResMed in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on shares of ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a report on Friday. Finally, UBS Group raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.20.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the completion of the sale, the chief executive officer directly owned 467,792 shares of the company’s stock, valued at approximately $132,314,967.20. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. Rider sold 100 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the sale, the general counsel directly owned 11,327 shares of the company’s stock, valued at $3,107,675.72. This represents a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 18,693 shares of company stock valued at $5,270,419. 0.65% of the stock is currently owned by company insiders.

ResMed Trading Down 2.2%

Shares of RMD opened at $246.67 on Monday. The company’s fifty day moving average is $271.78 and its 200 day moving average is $261.43. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The stock has a market capitalization of $36.00 billion, a PE ratio of 25.94, a P/E/G ratio of 1.75 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported $2.55 EPS for the quarter, topping the consensus estimate of $2.49 by $0.06. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. ResMed’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.20 earnings per share. Sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s payout ratio is currently 24.56%.

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.