O Shaughnessy Asset Management LLC Sells 4,289 Shares of ResMed Inc. $RMD

O Shaughnessy Asset Management LLC cut its position in shares of ResMed Inc. (NYSE:RMD) by 12.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 29,949 shares of the medical equipment provider’s stock after selling 4,289 shares during the period. O Shaughnessy Asset Management LLC’s holdings in ResMed were worth $7,214,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in ResMed during the 4th quarter valued at about $249,068,000. Swedbank AB raised its holdings in ResMed by 103.1% during the 4th quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock valued at $265,553,000 after buying an additional 559,765 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in ResMed by 7.4% during the 4th quarter. Bank of New York Mellon Corp now owns 4,890,654 shares of the medical equipment provider’s stock valued at $1,178,012,000 after buying an additional 337,738 shares during the last quarter. First Trust Advisors LP raised its holdings in ResMed by 285.1% during the 3rd quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock valued at $121,864,000 after buying an additional 329,588 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in ResMed by 2,373.1% during the 3rd quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider’s stock valued at $85,126,000 after buying an additional 298,412 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Down 1.6%

ResMed stock opened at $193.78 on Thursday. The firm has a market cap of $28.11 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.25 and a beta of 0.80. The stock has a fifty day simple moving average of $211.53 and a two-hundred day simple moving average of $236.09. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company earned $2.37 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts predict that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s payout ratio is presently 23.14%.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction on Monday, June 8th. The stock was sold at an average price of $193.96, for a total value of $968,054.36. Following the completion of the sale, the chief executive officer owned 466,256 shares of the company’s stock, valued at $90,435,013.76. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold 16,973 shares of company stock valued at $3,580,754 in the last ninety days. 0.65% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RMD has been the subject of several research analyst reports. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Citigroup dropped their price objective on ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Wells Fargo & Company dropped their price objective on ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Weiss Ratings cut ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Finally, Evercore set a $255.00 target price on ResMed and gave the company an “outperform” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $286.18.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.