Cape Cod Five Cents Savings Bank Sells 1,928 Shares of ResMed Inc. (NYSE:RMD)

Cape Cod Five Cents Savings Bank cut its holdings in ResMed Inc. (NYSE:RMD) by 6.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,734 shares of the medical equipment provider’s stock after selling 1,928 shares during the quarter. Cape Cod Five Cents Savings Bank’s holdings in ResMed were worth $6,526,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Nomura Asset Management Co. Ltd. lifted its holdings in shares of ResMed by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 42,909 shares of the medical equipment provider’s stock valued at $10,475,000 after purchasing an additional 2,064 shares during the last quarter. MML Investors Services LLC boosted its holdings in ResMed by 3.1% in the third quarter. MML Investors Services LLC now owns 8,697 shares of the medical equipment provider’s stock worth $2,123,000 after acquiring an additional 260 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of ResMed by 21.9% in the third quarter. Orion Portfolio Solutions LLC now owns 4,689 shares of the medical equipment provider’s stock worth $1,145,000 after acquiring an additional 841 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of ResMed by 40.2% during the third quarter. National Bank of Canada FI now owns 66,651 shares of the medical equipment provider’s stock valued at $16,271,000 after acquiring an additional 19,120 shares in the last quarter. Finally, Hendershot Investments Inc. raised its position in shares of ResMed by 0.5% in the 3rd quarter. Hendershot Investments Inc. now owns 44,542 shares of the medical equipment provider’s stock worth $10,874,000 after purchasing an additional 234 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ResMed

In related news, Director Witte Jan De sold 796 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,725 shares of company stock valued at $12,516,248 in the last three months. 0.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on RMD. Royal Bank of Canada raised their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. KeyCorp lifted their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Finally, Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.70.

ResMed Trading Up 0.8 %

ResMed stock opened at $241.41 on Monday. ResMed Inc. has a 12-month low of $162.05 and a 12-month high of $260.49. The firm has a market capitalization of $35.44 billion, a price-to-earnings ratio of 31.97, a P/E/G ratio of 1.75 and a beta of 0.68. The firm has a 50 day moving average of $242.30 and a 200 day moving average of $226.57. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company earned $1.64 EPS. ResMed’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts predict that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. ResMed’s dividend payout ratio is presently 28.08%.

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.