ResMed Inc. $RMD Shares Sold by Intrust Bank NA

Intrust Bank NA cut its holdings in shares of ResMed Inc. (NYSE:RMD) by 13.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,921 shares of the medical equipment provider’s stock after selling 793 shares during the period. Intrust Bank NA’s holdings in ResMed were worth $1,270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new stake in ResMed during the 1st quarter worth $45,000. Groupe la Francaise purchased a new stake in shares of ResMed in the first quarter valued at about $45,000. Harbour Investments Inc. boosted its stake in shares of ResMed by 264.2% during the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 177 shares during the period. Larson Financial Group LLC boosted its stake in shares of ResMed by 926.7% during the first quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock worth $69,000 after buying an additional 278 shares during the period. Finally, Quarry LP grew its holdings in shares of ResMed by 141.1% during the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after buying an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 0.2%

NYSE:RMD opened at $244.99 on Tuesday. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The stock has a fifty day moving average price of $265.58 and a two-hundred day moving average price of $263.23. The stock has a market capitalization of $35.75 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 1.75 and a beta of 0.87.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. UBS Group raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Robert W. Baird lowered their price objective on shares of ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Citigroup began coverage on shares of ResMed in a research report on Thursday, September 18th. They set a “buy” rating and a $330.00 price objective for the company. Finally, Wells Fargo & Company initiated coverage on shares of ResMed in a report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $297.45.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $252.05, for a total value of $504,100.00. Following the completion of the transaction, the director directly owned 66,110 shares of the company’s stock, valued at $16,663,025.50. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,011 shares of ResMed stock in a transaction on Friday, November 7th. The stock was sold at an average price of $249.75, for a total value of $2,000,747.25. Following the transaction, the chief executive officer directly owned 467,866 shares of the company’s stock, valued at approximately $116,849,533.50. This represents a 1.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 18,607 shares of company stock valued at $4,919,501. 0.65% of the stock is currently owned by corporate insiders.

About ResMed

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.