Martin Currie Ltd. Sells 15,646 Shares of ResMed Inc. (NYSE:RMD)

Martin Currie Ltd. trimmed its holdings in ResMed Inc. (NYSE:RMD) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,881 shares of the medical equipment provider’s stock after selling 15,646 shares during the period. Martin Currie Ltd.’s holdings in ResMed were worth $26,272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RMD. Thrivent Financial for Lutherans grew its stake in ResMed by 12.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock valued at $1,697,000 after buying an additional 755 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of ResMed during the third quarter worth approximately $244,000. Cerity Partners LLC lifted its holdings in ResMed by 82.0% during the 3rd quarter. Cerity Partners LLC now owns 13,686 shares of the medical equipment provider’s stock worth $3,341,000 after purchasing an additional 6,167 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in ResMed by 0.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 88,469 shares of the medical equipment provider’s stock valued at $21,593,000 after purchasing an additional 240 shares during the period. Finally, D.A. Davidson & CO. bought a new position in ResMed during the 3rd quarter worth $229,000. 54.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RMD shares. The Goldman Sachs Group started coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. JPMorgan Chase & Co. increased their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Piper Sandler increased their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.73.

ResMed Stock Down 1.2 %

RMD stock opened at $219.85 on Friday. The firm has a 50-day moving average price of $233.70 and a 200-day moving average price of $238.13. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $32.29 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last issued its quarterly earnings data 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%. As a group, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. ResMed’s dividend payout ratio is currently 25.03%.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the transaction, the director now owns 75,218 shares of the company’s stock, valued at $17,127,890.78. This represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. 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 90 days. Corporate 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.