ResMed Inc. (NYSE:RMD) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its position in ResMed Inc. (NYSE:RMD) by 0.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,062 shares of the medical equipment provider’s stock after selling 85 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of ResMed worth $17,250,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its holdings in shares of ResMed by 285.1% in the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after purchasing an additional 439 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in ResMed in the 4th quarter valued at about $601,000. IFP Advisors Inc lifted its stake in shares of ResMed by 37.1% during the fourth quarter. IFP Advisors Inc now owns 373 shares of the medical equipment provider’s stock valued at $85,000 after buying an additional 101 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of ResMed by 393.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,529 shares of the medical equipment provider’s stock worth $566,000 after purchasing an additional 2,016 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in shares of ResMed by 38.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,888 shares of the medical equipment provider’s stock valued at $432,000 after acquiring an additional 523 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $258.04 on Thursday. ResMed Inc. has a 12 month low of $183.84 and a 12 month high of $263.05. The stock has a market cap of $37.84 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.76 and a beta of 0.78. The stock’s 50 day moving average price is $243.27 and its 200 day moving average price is $235.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.49.

ResMed (NYSE:RMD) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.13 EPS. Equities research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.82%. ResMed’s dividend payout ratio is currently 23.79%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RMD. Morgan Stanley set a $286.00 price objective on ResMed and gave the stock an “overweight” rating in a report on Tuesday, May 20th. Mizuho set a $265.00 price target on ResMed in a research note on Wednesday, April 16th. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Finally, Stifel Nicolaus dropped their target price on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $259.33.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $251.21, for a total transaction of $2,011,940.89. Following the transaction, the chief executive officer now directly owns 455,503 shares in the company, valued at $114,426,908.63. The trade was a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Witte Jan De sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total value of $486,940.00. Following the sale, the director now directly owns 5,806 shares of the company’s stock, valued at $1,413,586.82. This trade represents a 25.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,132 shares of company stock worth $7,075,837 over the last quarter. Corporate insiders own 0.71% of the company’s stock.

ResMed Company Profile

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.