Sovereign s Capital Management LLC Sells 4,404 Shares of ResMed Inc. $RMD

Sovereign s Capital Management LLC trimmed its stake in shares of ResMed Inc. (NYSE:RMD) by 56.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,435 shares of the medical equipment provider’s stock after selling 4,404 shares during the quarter. Sovereign s Capital Management LLC’s holdings in ResMed were worth $827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Terra Nova Asset Management LLC raised its position in shares of ResMed by 0.6% during the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after acquiring an additional 46 shares during the last quarter. Occidental Asset Management LLC raised its position in shares of ResMed by 3.0% during the fourth quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after acquiring an additional 49 shares during the last quarter. Andina Capital Management LLC raised its position in shares of ResMed by 2.9% during the fourth quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock worth $479,000 after acquiring an additional 56 shares during the last quarter. Wedmont Private Capital raised its position in shares of ResMed by 2.7% during the fourth quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock worth $542,000 after acquiring an additional 57 shares during the last quarter. Finally, New Wave Wealth Advisors LLC raised its position in shares of ResMed by 3.0% during the fourth quarter. New Wave Wealth Advisors LLC now owns 1,956 shares of the medical equipment provider’s stock worth $471,000 after acquiring an additional 57 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Trading Up 0.7%

NYSE RMD opened at $194.13 on Wednesday. The business has a 50 day simple moving average of $209.09 and a 200 day simple moving average of $234.41. ResMed Inc. has a one year low of $180.26 and a one year high of $293.81. The stock has a market capitalization of $28.16 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.23 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33.

ResMed (NYSE:RMD) last released its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping 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 business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the firm posted $2.37 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. Research analysts expect that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

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

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $193.96, for a total transaction of $968,054.36. Following the completion of the sale, the chief executive officer owned 466,256 shares of the company’s stock, valued at $90,435,013.76. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,973 shares of company stock valued at $3,580,754 in the last ninety days. 0.65% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RMD shares. Robert W. Baird set a $225.00 price objective on ResMed in a research report on Friday, May 1st. Royal Bank Of Canada raised their price objective on ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. assumed coverage on ResMed in a research report on Wednesday, April 15th. They set an “overweight” rating for the company. KeyCorp decreased their target price on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Finally, Evercore set a $255.00 target price on ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, ResMed has an average rating of “Moderate Buy” and an average price target of $279.82.

ResMed Company Profile

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.