Bridgewater Associates LP Has $22.92 Million Stock Position in ResMed Inc. (NYSE:RMD)

Bridgewater Associates LP decreased its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 43.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,897 shares of the medical equipment provider's stock after selling 72,216 shares during the quarter. Bridgewater Associates LP owned 0.06% of ResMed worth $22,922,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Avestar Capital LLC purchased a new position in shares of ResMed during the third quarter valued at $270,000. Brooklyn Investment Group purchased a new position in shares of ResMed during the third quarter valued at $206,000. D.A. Davidson & CO. purchased a new position in shares of ResMed during the third quarter valued at $229,000. The Manufacturers Life Insurance Company grew its holdings in shares of ResMed by 0.3% during the third quarter. The Manufacturers Life Insurance Company now owns 88,469 shares of the medical equipment provider's stock valued at $21,593,000 after buying an additional 240 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new position in ResMed in the third quarter valued at about $728,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Stock Down 0.3 %

Shares of NYSE:RMD traded down $0.66 on Thursday, reaching $249.33. The company had a trading volume of 654,486 shares, compared to its average volume of 1,038,783. ResMed Inc. has a twelve month low of $151.95 and a twelve month high of $260.49. The stock has a 50-day moving average price of $242.15 and a 200 day moving average price of $225.38. The stock has a market capitalization of $36.60 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.82 and a beta of 0.69. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the firm earned $1.64 EPS. The firm's revenue was up 11.1% compared to the same quarter last year. On average, equities analysts expect that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. ResMed's dividend payout ratio is presently 28.08%.

Wall Street Analyst Weigh In

A number of research analysts have commented on RMD shares. Robert W. Baird boosted their target price on ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Royal Bank of Canada boosted their target price on ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. Bank of America boosted their target price on ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Finally, Wolfe Research restated an "underperform" rating and issued a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $225.70.

Insider Buying and Selling

In other ResMed news, Director Witte Jan De sold 796 shares of the company's 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 $1,672,749.63. This represents a 10.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kaushik Ghoshal sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The shares were 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 directly owns 21,788 shares of the company's stock, valued at approximately $5,502,777.28. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,334 shares of company stock valued at $16,379,713. Insiders own 0.71% of the company's stock.

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.