ResMed Inc. (NYSE:RMD) Shares Sold by KFG Wealth Management LLC

KFG Wealth Management LLC reduced its holdings in shares of ResMed Inc. (NYSE:RMD) by 4.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,534 shares of the medical equipment provider’s stock after selling 119 shares during the quarter. KFG Wealth Management LLC’s holdings in ResMed were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teza Capital Management LLC purchased a new stake in shares of ResMed during the third quarter valued at approximately $526,000. Gotham Asset Management LLC boosted its stake in ResMed by 284.9% in the third quarter. Gotham Asset Management LLC now owns 13,775 shares of the medical equipment provider’s stock valued at $2,037,000 after acquiring an additional 10,196 shares during the period. AQR Capital Management LLC grew its stake in ResMed by 23.2% during the 3rd quarter. AQR Capital Management LLC now owns 106,902 shares of the medical equipment provider’s stock worth $15,808,000 after buying an additional 20,165 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of ResMed in the 3rd quarter worth about $1,810,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of ResMed during the third quarter valued at approximately $223,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Activity

In other news, Director Karen Drexler sold 425 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the sale, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Karen Drexler sold 425 shares of ResMed stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $209.81, for a total value of $209,810.00. Following the transaction, the chief financial officer now directly owns 91,056 shares in the company, valued at approximately $19,104,459.36. The disclosure for this sale can be found here. Insiders sold 31,151 shares of company stock valued at $6,666,409 over the last quarter. 1.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on RMD shares. Needham & Company LLC reissued a “buy” rating and set a $236.00 target price on shares of ResMed in a research note on Monday, June 24th. Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. KeyCorp increased their price target on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada boosted their price objective on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $202.80.

ResMed Stock Performance

Shares of NYSE:RMD traded up $0.03 during trading on Wednesday, reaching $189.38. 383,823 shares of the stock were exchanged, compared to its average volume of 1,073,452. The stock has a 50-day moving average price of $208.71 and a 200-day moving average price of $191.64. The firm has a market cap of $27.82 billion, a PE ratio of 29.09, a PEG ratio of 1.88 and a beta of 0.66. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $229.97. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the firm earned $1.68 earnings per share. ResMed’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts expect that ResMed Inc. will post 7.7 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were issued a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a yield of 1.01%. ResMed’s payout ratio is presently 29.49%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.