Baillie Gifford & Co. Sells 37,059 Shares of ResMed Inc. (NYSE:RMD)

Baillie Gifford & Co. lessened its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 70.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 15,500 shares of the medical equipment provider's stock after selling 37,059 shares during the quarter. Baillie Gifford & Co.'s holdings in ResMed were worth $3,784,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RMD. Envestnet Portfolio Solutions Inc. lifted its stake in ResMed by 1.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider's stock valued at $631,000 after buying an additional 60 shares during the period. Empowered Funds LLC grew its holdings in ResMed by 88.8% in the first quarter. Empowered Funds LLC now owns 2,764 shares of the medical equipment provider's stock worth $547,000 after purchasing an additional 1,300 shares during the period. Concurrent Investment Advisors LLC bought a new stake in ResMed in the first quarter valued at $234,000. Sei Investments Co. raised its holdings in shares of ResMed by 12.9% during the first quarter. Sei Investments Co. now owns 21,708 shares of the medical equipment provider's stock valued at $4,299,000 after purchasing an additional 2,484 shares during the period. Finally, QRG Capital Management Inc. bought a new position in shares of ResMed during the 1st quarter worth about $245,000. Institutional investors own 54.98% of the company's stock.

Insider Transactions at ResMed

In related news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now owns 6,723 shares of the company's stock, valued at approximately $1,672,749.63. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the sale, the director now directly owns 87,204 shares of the company's stock, valued at $20,920,239.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now owns 6,723 shares of the company's stock, valued at approximately $1,672,749.63. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,056 shares of company stock valued at $15,086,020 over the last three months. Corporate insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. Robert W. Baird boosted their price target on shares of ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Needham & Company LLC restated 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 report on Tuesday, September 24th. Finally, Bank of America lifted their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $225.70.

ResMed Stock Down 1.4 %

Shares of NYSE:RMD traded down $3.26 on Thursday, hitting $232.18. 536,295 shares of the company traded hands, compared to its average volume of 1,046,292. The stock has a 50 day simple moving average of $243.30 and a 200-day simple moving average of $223.37. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a market cap of $34.08 billion, a PE ratio of 31.18, a PEG ratio of 1.81 and a beta of 0.69. ResMed Inc. has a 52 week low of $147.31 and a 52 week high of $260.49.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) 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 firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted $1.64 EPS. The business's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts expect that ResMed Inc. will post 9.22 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. ResMed's payout ratio is currently 28.08%.

ResMed 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.