Xponance Inc. Sells 2,564 Shares of ResMed Inc. (NYSE:RMD)

Xponance Inc. reduced its position in ResMed Inc. (NYSE:RMD) by 8.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 28,708 shares of the medical equipment provider’s stock after selling 2,564 shares during the quarter. Xponance Inc.’s holdings in ResMed were worth $6,565,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in ResMed during the third quarter valued at approximately $410,000. OneDigital Investment Advisors LLC lifted its position in ResMed by 4.1% during the third quarter. OneDigital Investment Advisors LLC now owns 2,558 shares of the medical equipment provider’s stock valued at $624,000 after purchasing an additional 100 shares during the last quarter. Empowered Funds LLC lifted its position in ResMed by 284.3% during the third quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock valued at $2,004,000 after purchasing an additional 6,072 shares during the last quarter. Natixis Advisors LLC lifted its position in ResMed by 31.9% during the third quarter. Natixis Advisors LLC now owns 51,498 shares of the medical equipment provider’s stock valued at $12,572,000 after purchasing an additional 12,445 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in ResMed by 12.2% during the third quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock valued at $1,697,000 after purchasing an additional 755 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the sale, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock worth $9,164,385 over the last quarter. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. KeyCorp lifted their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.83.

ResMed Stock Performance

NYSE:RMD opened at $222.07 on Thursday. The stock has a market cap of $32.61 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The firm’s fifty day simple moving average is $235.48 and its 200 day simple moving average is $239.36. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

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.