Cresset Asset Management LLC Has $482,000 Position in ResMed Inc. (NYSE:RMD)

Cresset Asset Management LLC lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 85.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,106 shares of the medical equipment provider’s stock after selling 12,440 shares during the quarter. Cresset Asset Management LLC’s holdings in ResMed were worth $482,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RMD. Vanguard Group Inc. lifted its stake in ResMed by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider’s stock worth $4,156,089,000 after purchasing an additional 160,590 shares during the last quarter. Geode Capital Management LLC lifted its stake in ResMed by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider’s stock worth $899,860,000 after purchasing an additional 85,270 shares during the last quarter. Invesco Ltd. lifted its stake in ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock worth $531,706,000 after purchasing an additional 566,046 shares during the last quarter. Northern Trust Corp lifted its stake in ResMed by 20.6% during the fourth quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider’s stock worth $389,365,000 after purchasing an additional 290,664 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in ResMed by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock worth $218,861,000 after purchasing an additional 32,973 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $229.20, for a total value of $1,835,662.80. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $104,394,182.40. The trade was a 1.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the transaction, the director now directly owns 75,218 shares in the company, valued at $17,127,890.78. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,949 shares of company stock valued at $11,335,320 in the last ninety days. 0.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on RMD. Stifel Nicolaus cut their target price on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. UBS Group cut their price objective on ResMed from $290.00 to $285.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Morgan Stanley initiated coverage on ResMed in a report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus price target of $258.83.

ResMed Stock Down 0.4%

Shares of RMD opened at $246.63 on Thursday. The company has a market capitalization of $36.16 billion, a PE ratio of 29.12, a PEG ratio of 1.53 and a beta of 0.78. 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’s 50-day moving average price is $224.59 and its two-hundred day moving average price is $234.16. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.01. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.13 EPS. On average, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Thursday, May 8th. ResMed’s dividend payout ratio is 23.79%.

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.