AdvisorShares Investments LLC Decreases Stake in ResMed Inc. $RMD

AdvisorShares Investments LLC cut its stake in shares of ResMed Inc. (NYSE:RMD) by 8.8% during the first quarter, HoldingsChannel.com reports. The firm owned 27,050 shares of the medical equipment provider’s stock after selling 2,622 shares during the period. ResMed accounts for about 1.1% of AdvisorShares Investments LLC’s portfolio, making the stock its 27th largest position. AdvisorShares Investments LLC’s holdings in ResMed were worth $6,072,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Landscape Capital Management L.L.C. grew its position in shares of ResMed by 123.2% in the third quarter. Landscape Capital Management L.L.C. now owns 49,017 shares of the medical equipment provider’s stock valued at $13,417,000 after purchasing an additional 27,060 shares during the period. Nordea Investment Management AB lifted its position in ResMed by 37.2% during the fourth quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock worth $262,027,000 after buying an additional 294,124 shares during the period. Russell Investments Group Ltd. lifted its position in ResMed by 20.2% during the third quarter. Russell Investments Group Ltd. now owns 112,755 shares of the medical equipment provider’s stock worth $30,847,000 after buying an additional 18,966 shares during the period. Goldman Sachs Group Inc. boosted its stake in ResMed by 13.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 979,087 shares of the medical equipment provider’s stock worth $235,833,000 after buying an additional 118,296 shares during the last quarter. Finally, Dundas Partners LLP boosted its stake in ResMed by 15.1% in the 3rd quarter. Dundas Partners LLP now owns 175,117 shares of the medical equipment provider’s stock worth $47,935,000 after buying an additional 22,933 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.1%

Shares of 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. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81. 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 stock has a 50-day simple moving average of $201.15 and a 200-day simple moving average of $229.51.

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

ResMed Dividend Announcement

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

Insider Activity

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $193.96, for a total value of $968,054.36. Following the transaction, the chief executive officer owned 466,256 shares of the company’s stock, valued at approximately $90,435,013.76. This trade represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,973 shares of company stock valued at $3,130,754 over the last ninety days. 0.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RMD. JPMorgan Chase & Co. assumed coverage on shares of ResMed in a report on Wednesday, April 15th. They set an “overweight” rating on the stock. Wells Fargo & Company dropped their price target on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Citigroup cut their price target on shares of ResMed from $340.00 to $270.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. Weiss Ratings lowered shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Finally, Robert W. Baird set a $225.00 price objective on shares of ResMed in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $270.82.

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.