Bayforest Capital Ltd Reduces Holdings in ResMed Inc. $RMD

Bayforest Capital Ltd decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 85.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 350 shares of the medical equipment provider’s stock after selling 2,109 shares during the period. Bayforest Capital Ltd’s holdings in ResMed were worth $96,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RMD. SJS Investment Consulting Inc. boosted its position in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 86 shares in the last quarter. WFA of San Diego LLC bought a new stake in shares of ResMed during the second quarter valued at approximately $26,000. GoalVest Advisory LLC purchased a new stake in ResMed in the third quarter worth $37,000. Harbour Investments Inc. raised its holdings in ResMed by 264.2% in the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 177 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new position in ResMed during the second quarter valued at $77,000. 54.98% of the stock is owned by institutional investors.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the sale, the chief executive officer owned 466,223 shares in the company, valued at $115,837,766.58. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total value of $524,025.00. Following the completion of the sale, the director directly owned 4,261 shares in the company, valued at $1,086,555. This trade represents a 32.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,594 shares of company stock valued at $5,403,495 over the last ninety days. 0.65% of the stock is currently owned by company insiders.

ResMed Stock Performance

Shares of NYSE RMD opened at $259.70 on Thursday. The firm’s 50-day moving average price is $249.09 and its 200-day moving average price is $263.23. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a market cap of $37.90 billion, a PE ratio of 26.58, a PEG ratio of 1.71 and a beta of 0.88. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07.

ResMed (NYSE:RMD) last posted its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company earned $2.20 earnings per share. ResMed’s revenue was up 9.1% on a year-over-year basis. As a group, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, November 13th. ResMed’s dividend payout ratio is presently 24.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RMD shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ResMed in a research report on Monday, December 29th. Citigroup initiated coverage on shares of ResMed in a research note on Thursday, September 18th. They set a “buy” rating and a $330.00 price objective on the stock. UBS Group reaffirmed a “buy” rating and set a $345.00 target price on shares of ResMed in a research note on Friday, December 12th. Wells Fargo & Company started coverage on ResMed in a research report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price target on the stock. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $275.00 price objective (down previously from $300.00) on shares of ResMed in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $296.09.

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.