Edgestream Partners L.P. Sells 20,650 Shares of ResMed Inc. $RMD

Edgestream Partners L.P. decreased its position in ResMed Inc. (NYSE:RMD) by 92.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,769 shares of the medical equipment provider’s stock after selling 20,650 shares during the quarter. Edgestream Partners L.P.’s holdings in ResMed were worth $456,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Citizens Financial Group Inc. RI bought a new position in shares of ResMed during the first quarter worth about $203,000. Charles Schwab Investment Management Inc. lifted its stake in ResMed by 4.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 998,128 shares of the medical equipment provider’s stock valued at $223,431,000 after acquiring an additional 41,108 shares in the last quarter. National Bank of Canada FI boosted its position in ResMed by 135.0% during the 1st quarter. National Bank of Canada FI now owns 89,574 shares of the medical equipment provider’s stock worth $20,052,000 after acquiring an additional 51,453 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in ResMed during the 1st quarter worth approximately $45,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of ResMed by 8.3% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,106 shares of the medical equipment provider’s stock worth $15,022,000 after acquiring an additional 5,166 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Up 2.0%

ResMed stock opened at $256.61 on Monday. The company’s 50-day moving average price is $259.47 and its two-hundred day moving average price is $263.72. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07. The stock has a market cap of $37.45 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.73 and a beta of 0.87. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. As a group, analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s dividend payout ratio is currently 24.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. KeyCorp boosted their price objective on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Wells Fargo & Company initiated coverage on shares of ResMed in a research note on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price target on the stock. CLSA raised shares of ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Robert W. Baird reduced their price objective on shares of ResMed from $320.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of ResMed in a report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $297.45.

Insider Transactions at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the transaction, the general counsel owned 11,327 shares in the company, valued at $3,107,675.72. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total value of $524,025.00. Following the sale, the director directly owned 4,261 shares of the company’s stock, valued at $1,086,555. This represents a 32.54% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 22,662 shares of company stock valued at $5,946,466. Corporate insiders own 0.65% of the company’s stock.

About ResMed

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.