West Coast Financial LLC Has $8.08 Million Stake in ResMed Inc. (NYSE:RMD)

West Coast Financial LLC reduced its position in shares of ResMed Inc. (NYSE:RMD) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,338 shares of the medical equipment provider’s stock after selling 152 shares during the period. West Coast Financial LLC’s holdings in ResMed were worth $8,082,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Private Advisor Group LLC increased its position in shares of ResMed by 15.1% in the second quarter. Private Advisor Group LLC now owns 3,071 shares of the medical equipment provider’s stock valued at $588,000 after acquiring an additional 402 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of ResMed by 471.6% in the 2nd quarter. Acadian Asset Management LLC now owns 3,681 shares of the medical equipment provider’s stock valued at $704,000 after buying an additional 3,037 shares during the last quarter. Quest Partners LLC grew its stake in shares of ResMed by 44.1% in the second quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 100 shares in the last quarter. American Century Companies Inc. increased its holdings in ResMed by 17.7% during the second quarter. American Century Companies Inc. now owns 30,874 shares of the medical equipment provider’s stock worth $5,910,000 after buying an additional 4,639 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in ResMed by 7.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,177 shares of the medical equipment provider’s stock worth $1,948,000 after acquiring an additional 674 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the sale, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,099 shares of company stock valued at $2,719,385. 0.71% of the stock is currently owned by company insiders.

ResMed Trading Up 1.8 %

NYSE RMD opened at $233.01 on Thursday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a market cap of $34.21 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. ResMed Inc. has a twelve month low of $168.29 and a twelve month high of $260.49. The business’s fifty day moving average is $239.24 and its 200 day moving average is $232.06.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 earnings per share. As a group, sell-side analysts expect that ResMed Inc. will post 9.36 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.91%. The ex-dividend date was Thursday, November 7th. ResMed’s payout ratio is presently 28.08%.

Wall Street Analyst Weigh In

RMD has been the topic of several recent analyst reports. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Bank of America upped their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group assumed coverage on ResMed in a research note on Thursday. They set a “buy” rating for the company. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Robert W. Baird upped their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ResMed has a consensus rating of “Hold” and an average price target of $233.09.

ResMed Company Profile

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.