Keybank National Association OH Decreases Stock Position in ResMed Inc. $RMD

Keybank National Association OH cut its position in ResMed Inc. (NYSE:RMD) by 8.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,697 shares of the medical equipment provider’s stock after selling 11,480 shares during the period. Keybank National Association OH owned 0.09% of ResMed worth $28,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in ResMed by 52.6% during the 1st quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after purchasing an additional 994 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of ResMed in the second quarter valued at about $389,000. Brown Advisory Inc. raised its position in shares of ResMed by 17.8% in the second quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock valued at $409,000 after buying an additional 240 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in shares of ResMed in the second quarter valued at about $206,000. Finally, Alliancebernstein L.P. lifted its stake in shares of ResMed by 24.2% in the second quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock worth $73,808,000 after buying an additional 55,790 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

NYSE:RMD opened at $209.37 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The stock has a market capitalization of $30.37 billion, a P/E ratio of 20.19, a PEG ratio of 1.23 and a beta of 0.78. The company has a 50 day moving average price of $201.15 and a 200 day moving average price of $229.51. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81.

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

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. ResMed’s payout ratio is presently 23.14%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RMD shares. Evercore set a $255.00 price target on shares of ResMed and gave the stock an “outperform” rating in a research report on Monday, April 13th. Royal Bank Of Canada raised their target price on shares of ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Citigroup dropped their price target on ResMed from $340.00 to $270.00 and set a “buy” rating for the company in a research report on Monday, June 15th. Finally, JPMorgan Chase & Co. started coverage on ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average price target of $270.82.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $193.96, for a total value of $968,054.36. Following the sale, the chief executive officer owned 466,256 shares in the company, valued at approximately $90,435,013.76. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 14,973 shares of company stock valued at $3,130,754. 0.65% of the stock is currently owned by insiders.

ResMed 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.