ResMed Inc. (NYSE:RMD) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,147 shares of the medical equipment provider's stock after selling 1,752 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of ResMed worth $17,643,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. Geode Capital Management LLC boosted its stake in ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock worth $939,114,000 after buying an additional 380,383 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in ResMed by 726.3% during the third 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 during the last quarter. Nordea Investment Management AB boosted its stake in ResMed by 92.7% during the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider's stock worth $103,214,000 after buying an additional 215,561 shares during the last quarter. State Street Corp boosted its stake in ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock worth $1,528,590,000 after buying an additional 116,918 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in ResMed by 738.4% during the third quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider's stock worth $25,617,000 after buying an additional 92,422 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Stock Performance

Shares of NYSE RMD traded up $3.90 during trading hours on Wednesday, reaching $234.48. The stock had a trading volume of 926,014 shares, compared to its average volume of 977,597. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05. The firm has a 50-day moving average of $237.99 and a 200-day moving average of $239.04. 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 firm has a market cap of $34.44 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.54 and a beta of 0.70.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping 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%. Equities research analysts predict that ResMed Inc. will post 9.44 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. ResMed's dividend payout ratio is currently 25.03%.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the transaction, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Justin Leong sold 6,160 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares of the company's stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,307 shares of company stock valued at $4,403,180 in the last three months. 0.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on RMD. KeyCorp upped their price target on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Stifel Nicolaus began coverage on ResMed in a research note on Friday, December 13th. They issued a "hold" rating and a $250.00 price target on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research note on Friday, January 31st. Royal Bank of Canada upped their price target on ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Finally, Piper Sandler upped their price target on ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

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.