Vinva Investment Management Ltd Decreases Stake in ResMed Inc. (NYSE:RMD)

Vinva Investment Management Ltd decreased its position in ResMed Inc. (NYSE:RMD) by 58.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,615 shares of the medical equipment provider’s stock after selling 12,288 shares during the period. Vinva Investment Management Ltd’s holdings in ResMed were worth $1,977,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after buying an additional 116,918 shares during the last quarter. Geode Capital Management LLC increased its stake in ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after buying an additional 380,383 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in ResMed by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock valued at $218,861,000 after buying an additional 32,973 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in ResMed by 0.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after buying an additional 2,406 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of ResMed by 60.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock worth $152,973,000 after purchasing an additional 250,746 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.4 %

Shares of NYSE:RMD opened at $221.13 on Friday. The firm has a fifty day moving average price of $235.19 and a two-hundred day moving average price of $239.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05. The company has a market cap of $32.48 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS 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%. Analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.96%. The ex-dividend date was Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Analysts Set New Price Targets

RMD has been the subject of several research analyst reports. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. KeyCorp raised 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. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Stifel Nicolaus decreased their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $246.83.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the sale, the chief executive officer now owns 455,472 shares in the company, valued at approximately $104,394,182.40. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’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. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock valued at $9,164,385 in the last three months. Company insiders own 0.71% of the company’s stock.

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.