BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $5.98 Million Stock Position in ResMed Inc. (NYSE:RMD)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in ResMed Inc. (NYSE:RMD - Free Report) by 13.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,509 shares of the medical equipment provider's stock after selling 3,662 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in ResMed were worth $5,983,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. acquired a new position in shares of ResMed in the 3rd quarter worth approximately $383,000. Ironwood Investment Counsel LLC acquired a new position in shares of ResMed in the 3rd quarter worth approximately $225,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of ResMed by 726.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider's stock worth $69,281,000 after buying an additional 249,454 shares in the last quarter. PDT Partners LLC acquired a new position in shares of ResMed in the 3rd quarter worth approximately $2,816,000. Finally, Fred Alger Management LLC acquired a new position in shares of ResMed in the 3rd quarter worth approximately $1,381,000. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Transactions at ResMed

In related news, insider Justin Leong sold 6,160 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the sale, the insider now owns 21,718 shares of the company's stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brett Sandercock sold 1,000 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $246.42, for a total value of $246,420.00. Following the sale, the chief financial officer now directly owns 96,812 shares in the company, valued at $23,856,413.04. The trade was a 1.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,408 shares of company stock worth $16,398,132 in the last three months. Insiders own 0.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RMD shares. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. Wolfe Research reaffirmed an "underperform" rating and set a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a report on Friday, October 25th. Baird R W raised ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. Finally, Robert W. Baird raised their price target on ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $225.70.

ResMed Trading Up 0.8 %

Shares of NYSE:RMD traded up $1.99 during midday trading on Tuesday, hitting $246.91. The company had a trading volume of 662,777 shares, compared to its average volume of 1,032,234. ResMed Inc. has a 12 month low of $159.60 and a 12 month high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $36.25 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 1.78 and a beta of 0.68. The firm has a fifty day simple moving average of $242.21 and a 200 day simple moving average of $226.07.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $1.64 EPS. The firm's revenue was up 11.1% on a year-over-year basis. On average, analysts predict that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 annualized dividend and a dividend yield of 0.86%. ResMed's dividend payout ratio is currently 28.08%.

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.