Commerce Bank Sells 234 Shares of ResMed Inc. (NYSE:RMD)

Commerce Bank cut its stake in shares of ResMed Inc. (NYSE:RMD) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,375 shares of the medical equipment provider’s stock after selling 234 shares during the quarter. Commerce Bank’s holdings in ResMed were worth $1,556,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in ResMed in the second quarter valued at approximately $32,000. Ashton Thomas Securities LLC acquired a new stake in shares of ResMed during the third quarter worth $34,000. Versant Capital Management Inc raised its stake in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new position in ResMed in the second quarter valued at $37,000. Finally, Blue Trust Inc. boosted its position in ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 137 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Activity

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares in the company, valued at $5,502,777.28. This represents a 18.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $246.42, for a total value of $246,420.00. Following the sale, the chief financial officer now directly owns 96,812 shares of the company’s stock, valued at approximately $23,856,413.04. This represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,174 shares of company stock valued at $14,882,278 over the last three months. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the subject of several research analyst reports. KeyCorp lifted their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America upped their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada boosted their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.70.

ResMed Price Performance

Shares of NYSE:RMD opened at $243.78 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $35.79 billion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 1.77 and a beta of 0.69. The stock’s fifty day simple moving average is $241.86 and its two-hundred day simple moving average is $224.47. ResMed Inc. has a 1-year low of $151.95 and a 1-year high of $260.49.

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, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm earned $1.64 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, analysts forecast that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. ResMed’s payout ratio is presently 28.08%.

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.