ResMed Inc. (NYSE:RMD) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP cut its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,271 shares of the medical equipment provider's stock after selling 6,626 shares during the period. Bridgewater Associates LP owned approximately 0.06% of ResMed worth $19,958,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RMD. Howard Capital Management Inc. grew its position in ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after acquiring an additional 45 shares during the period. SkyView Investment Advisors LLC raised its holdings in ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider's stock valued at $637,000 after buying an additional 51 shares during the period. Wedmont Private Capital lifted its position in ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider's stock valued at $475,000 after buying an additional 52 shares during the last quarter. Faithward Advisors LLC boosted its stake in ResMed by 4.3% during the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock worth $292,000 after buying an additional 53 shares during the period. Finally, HighPoint Advisor Group LLC increased its position in shares of ResMed by 2.6% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider's stock valued at $610,000 after acquiring an additional 64 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Up 0.7 %

Shares of RMD stock traded up $1.40 on Friday, reaching $212.89. 1,109,562 shares of the stock were exchanged, compared to its average volume of 1,024,057. The company has a market capitalization of $31.27 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.53 and a beta of 0.75. The business's 50 day moving average price is $223.12 and its 200 day moving average price is $234.52. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a twelve month low of $176.92 and a twelve month high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts' consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, February 13th. ResMed's payout ratio is 25.03%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RMD. UBS Group raised shares of ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Mizuho set a $265.00 price objective on ResMed in a report on Wednesday. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Finally, StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.00.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at approximately $95,580,799.20. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed 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 completion of the transaction, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,013 shares of company stock valued at $11,298,816 in the last ninety days. Insiders own 0.71% of the company's stock.

About ResMed

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.