Bahl & Gaynor Inc. Reduces Holdings in ResMed Inc. (NYSE:RMD)

Bahl & Gaynor Inc. reduced its stake in ResMed Inc. (NYSE:RMD) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,675 shares of the medical equipment provider’s stock after selling 582 shares during the period. Bahl & Gaynor Inc.’s holdings in ResMed were worth $7,341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RMD. Motley Fool Asset Management LLC raised its holdings in ResMed by 4.7% during the 4th quarter. Motley Fool Asset Management LLC now owns 4,397 shares of the medical equipment provider’s stock valued at $756,000 after buying an additional 198 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of ResMed in the fourth quarter worth about $1,120,000. Tokio Marine Asset Management Co. Ltd. increased its holdings in ResMed by 3.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,808 shares of the medical equipment provider’s stock valued at $655,000 after purchasing an additional 128 shares during the period. Cognios Beta Neutral Large Cap Fund LP raised its position in ResMed by 7.8% during the 4th quarter. Cognios Beta Neutral Large Cap Fund LP now owns 2,411 shares of the medical equipment provider’s stock valued at $415,000 after purchasing an additional 174 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in ResMed in the 4th quarter worth approximately $123,000. Institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,216 shares of company stock valued at $2,046,617. Corporate insiders own 1.21% of the company’s stock.

ResMed Stock Up 18.9 %

Shares of RMD traded up $34.64 during trading hours on Friday, hitting $218.06. The company had a trading volume of 4,330,318 shares, compared to its average volume of 1,056,215. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $243.52. The firm has a fifty day moving average price of $187.07 and a 200-day moving average price of $171.97. The stock has a market capitalization of $32.07 billion, a price-to-earnings ratio of 36.04, a P/E/G ratio of 2.25 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company earned $1.68 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that ResMed Inc. will post 7.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Needham & Company LLC upped their target price on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a report on Friday. Mizuho reaffirmed a “buy” rating and set a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Oppenheimer reduced their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday. UBS Group raised their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. upped their target price on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average target price of $202.80.

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.