Visionary Asset Management Inc. Reduces Position in ResMed Inc. (RMD)

Visionary Asset Management Inc. lowered its position in ResMed Inc. (NYSE:RMD) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,489 shares of the medical equipment provider’s stock after selling 141 shares during the period. Visionary Asset Management Inc.’s holdings in ResMed were worth $283,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd increased its holdings in ResMed by 245.4% in the third quarter. Harvest Fund Management Co. Ltd now owns 905 shares of the medical equipment provider’s stock worth $104,000 after buying an additional 643 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in ResMed by 144.7% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,018 shares of the medical equipment provider’s stock valued at $117,000 after purchasing an additional 602 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in ResMed during the second quarter valued at approximately $148,000. Cerebellum GP LLC acquired a new position in ResMed during the third quarter valued at approximately $186,000. Finally, First Hawaiian Bank acquired a new position in ResMed during the third quarter valued at approximately $201,000. Hedge funds and other institutional investors own 64.87% of the company’s stock.

Several brokerages have commented on RMD. BMO Capital Markets increased their price target on ResMed from $107.00 to $109.00 and gave the company a “market perform” rating in a report on Friday, October 26th. Credit Suisse Group upgraded ResMed from a “neutral” rating to an “outperform” rating in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $123.50.

In related news, CFO Brett Sandercock sold 2,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $103.16, for a total value of $206,320.00. Following the completion of the transaction, the chief financial officer now directly owns 71,232 shares of the company’s stock, valued at $7,348,293.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James Hollingshead sold 600 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $105.93, for a total value of $63,558.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,103 shares of company stock worth $4,223,696. 1.24% of the stock is currently owned by corporate insiders.

Shares of ResMed stock traded down $1.29 during midday trading on Friday, hitting $114.10. The company had a trading volume of 11,942 shares, compared to its average volume of 912,835. The company has a market cap of $16.32 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 2.93 and a beta of 0.86. The company has a current ratio of 2.58, a quick ratio of 1.91 and a debt-to-equity ratio of 0.27. ResMed Inc. has a 1-year low of $86.26 and a 1-year high of $116.64.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 25th. The medical equipment provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.01. The business had revenue of $588.28 million for the quarter, compared to the consensus estimate of $576.66 million. ResMed had a net margin of 13.94% and a return on equity of 26.29%. As a group, research analysts forecast that ResMed Inc. will post 3.69 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 13th. Stockholders of record on Thursday, November 8th were paid a $0.37 dividend. The ex-dividend date was Wednesday, November 7th. This represents a $1.48 annualized dividend and a dividend yield of 1.30%. ResMed’s payout ratio is 41.93%.

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About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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