ResMed Inc. $RMD Stake Lessened by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. lowered its position in ResMed Inc. (NYSE:RMD) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 500,145 shares of the medical equipment provider’s stock after selling 5,071 shares during the quarter. ResMed accounts for about 4.5% of Tandem Investment Advisors Inc.’s investment portfolio, making the stock its 6th biggest holding. Tandem Investment Advisors Inc.’s holdings in ResMed were worth $120,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Imprint Wealth LLC purchased a new position in ResMed in the third quarter worth about $26,000. WFA of San Diego LLC purchased a new stake in shares of ResMed during the 2nd quarter valued at about $26,000. International Assets Investment Management LLC purchased a new stake in shares of ResMed during the 4th quarter valued at about $25,000. ORG Partners LLC lifted its stake in shares of ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in shares of ResMed in the third quarter worth approximately $31,000. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $208.04 on Tuesday. 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 Inc. has a 12-month low of $198.61 and a 12-month high of $293.81. The stock has a 50-day moving average price of $219.24 and a 200 day moving average price of $240.60. The stock has a market capitalization of $30.31 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.33 and a beta of 0.84.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company earned $2.37 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Equities research analysts forecast that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. ResMed’s dividend payout ratio is currently 23.14%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $251.03, for a total value of $1,252,890.73. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $117,035,959.69. This trade represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,973 shares of company stock valued at $4,386,031 over the last ninety days. 0.65% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on RMD shares. Royal Bank Of Canada boosted their target price on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Citigroup lowered their price objective on ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Wells Fargo & Company reduced their target price on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. KeyCorp decreased their target price on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. started coverage on shares of ResMed in a report on Wednesday, April 15th. They set an “overweight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average target price of $286.18.

About ResMed

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.