Entropy Technologies LP Sells 6,581 Shares of ResMed Inc. (NYSE:RMD)

Entropy Technologies LP lessened its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 85.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,089 shares of the medical equipment provider's stock after selling 6,581 shares during the quarter. Entropy Technologies LP's holdings in ResMed were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. Peak Financial Advisors LLC bought a new position in ResMed in the 4th quarter worth $2,972,000. Principal Financial Group Inc. increased its position in shares of ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider's stock valued at $45,596,000 after buying an additional 5,284 shares during the period. Spire Wealth Management raised its stake in ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock worth $2,470,000 after buying an additional 1,100 shares in the last quarter. Retireful LLC purchased a new stake in ResMed in the third quarter worth about $742,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in ResMed by 38.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,830 shares of the medical equipment provider's stock valued at $2,989,000 after acquiring an additional 3,576 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insiders Place Their Bets

In other 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 value of $1,497,434.40. Following the transaction, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,307 shares of company stock valued at $4,403,180. 0.71% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on RMD. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. KeyCorp increased their price objective on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Piper Sandler boosted their target price on shares of ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a report on Friday, January 31st. The Goldman Sachs Group started coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a "buy" rating for the company. Finally, Robert W. Baird boosted their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $244.73.

ResMed Stock Down 2.7 %

Shares of NYSE RMD traded down $6.55 during midday trading on Monday, hitting $232.93. The stock had a trading volume of 1,025,931 shares, compared to its average volume of 1,059,213. The business's 50 day moving average is $238.51 and its 200-day moving average is $238.86. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market cap of $34.21 billion, a P/E ratio of 27.50, a PEG ratio of 1.57 and a beta of 0.70.

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

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.91%. ResMed's payout ratio is 25.03%.

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.