Vista Investment Management Sells 150 Shares of ResMed Inc. (NYSE:RMD)

Vista Investment Management decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 2.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,979 shares of the medical equipment provider’s stock after selling 150 shares during the period. Vista Investment Management’s holdings in ResMed were worth $1,139,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in RMD. Vident Advisory LLC boosted its position in shares of ResMed by 6.1% in the fourth quarter. Vident Advisory LLC now owns 17,128 shares of the medical equipment provider’s stock valued at $3,917,000 after acquiring an additional 982 shares during the period. Sovereign s Capital Management LLC bought a new stake in shares of ResMed in the fourth quarter valued at approximately $1,211,000. WBI Investments LLC boosted its stake in shares of ResMed by 160.7% in the fourth quarter. WBI Investments LLC now owns 15,612 shares of the medical equipment provider’s stock valued at $3,570,000 after buying an additional 9,624 shares during the period. Triglav Skladi D.O.O. acquired a new position in ResMed in the fourth quarter valued at about $1,692,000. Finally, Tidal Investments LLC increased its holdings in ResMed by 5.8% in the 4th quarter. Tidal Investments LLC now owns 111,069 shares of the medical equipment provider’s stock valued at $25,400,000 after buying an additional 6,131 shares during the period. Institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total value of $484,500.00. Following the sale, the director now owns 71,218 shares in the company, valued at approximately $17,252,560.50. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $243.23, for a total value of $1,948,029.07. Following the transaction, the chief executive officer now directly owns 455,503 shares of the company’s stock, valued at $110,791,994.69. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,949 shares of company stock valued at $11,335,320 over the last ninety days. 0.71% of the stock is currently owned by insiders.

ResMed Stock Up 0.5%

RMD opened at $252.96 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company’s 50-day moving average is $226.00 and its 200 day moving average is $234.17. ResMed Inc. has a fifty-two week low of $179.42 and a fifty-two week high of $263.05. The firm has a market capitalization of $37.09 billion, a P/E ratio of 29.87, a PEG ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. ResMed’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $2.13 earnings per share. Research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Thursday, May 8th. ResMed’s dividend payout ratio is currently 23.79%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RMD shares. Mizuho set a $265.00 price objective on shares of ResMed in a research note on Wednesday, April 16th. Stifel Nicolaus decreased their target price on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. UBS Group decreased their price target on shares of ResMed from $290.00 to $285.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Morgan Stanley began coverage on shares of ResMed in a report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price target on the stock. Finally, Royal Bank of Canada boosted their price objective on ResMed from $247.00 to $255.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and an average target price of $258.83.

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.