Everence Capital Management Inc. Has $408,000 Position in ResMed Inc. (NYSE:RMD)

Everence Capital Management Inc. reduced its holdings in ResMed Inc. (NYSE:RMD) by 64.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,370 shares of the medical equipment provider’s stock after selling 4,380 shares during the quarter. Everence Capital Management Inc.’s holdings in ResMed were worth $408,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Desjardins Global Asset Management Inc. grew its position in shares of ResMed by 22.9% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 585 shares of the medical equipment provider’s stock valued at $101,000 after purchasing an additional 109 shares during the last quarter. Main Street Research LLC acquired a new stake in ResMed during the fourth quarter worth about $206,000. SVB Wealth LLC acquired a new stake in ResMed during the fourth quarter worth about $298,000. Oak Family Advisors LLC grew its position in ResMed by 16.7% during the fourth quarter. Oak Family Advisors LLC now owns 6,179 shares of the medical equipment provider’s stock worth $1,063,000 after buying an additional 883 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in ResMed by 10.7% during the fourth quarter. Mackenzie Financial Corp now owns 167,765 shares of the medical equipment provider’s stock worth $28,859,000 after buying an additional 16,260 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

NYSE:RMD opened at $177.61 on Friday. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $243.52. The firm has a 50 day moving average of $186.29 and a 200-day moving average of $170.22. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $26.12 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 2.15 and a beta of 0.67.

ResMed (NYSE:RMD) last posted its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. ResMed’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that ResMed Inc. will post 7.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is currently 31.74%.

Insider Activity

In other news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,216 shares of company stock worth $2,046,617. Insiders own 1.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RMD shares. UBS Group lifted their target price on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Mizuho reissued a “buy” rating and set a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Royal Bank of Canada lifted their target price on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 25th. Needham & Company LLC lifted their price objective on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, KeyCorp initiated coverage on ResMed in a report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price objective on the stock. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.20.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.