LMR Partners LLP Sells 18,741 Shares of ResMed Inc. (NYSE:RMD)

LMR Partners LLP lessened its position in ResMed Inc. (NYSE:RMD - Free Report) by 75.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,166 shares of the medical equipment provider's stock after selling 18,741 shares during the period. LMR Partners LLP's holdings in ResMed were worth $1,505,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RMD. Bank of New York Mellon Corp grew its position in shares of ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider's stock worth $1,105,022,000 after buying an additional 1,959,642 shares during the period. Los Angeles Capital Management LLC lifted its position in ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider's stock valued at $141,694,000 after purchasing an additional 241,195 shares during the period. Greenvale Capital LLP boosted its stake in shares of ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock worth $138,780,000 after buying an additional 275,000 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of ResMed by 19.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider's stock valued at $126,670,000 after purchasing an additional 107,279 shares during the period. Finally, Tandem Investment Advisors Inc. increased its holdings in ResMed by 3.0% during the second quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider's stock valued at $95,976,000 after buying an additional 14,590 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the transaction, the chief executive officer now owns 464,169 shares of the company's stock, valued at approximately $107,645,432.79. This represents a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares of the company's stock, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,174 shares of company stock valued at $14,882,278 in the last 90 days. Company insiders own 0.71% of the company's stock.

ResMed Trading Down 0.6 %

ResMed stock traded down $1.38 during midday trading on Tuesday, reaching $238.04. The stock had a trading volume of 710,758 shares, compared to its average volume of 1,046,357. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm has a market cap of $34.94 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 1.71 and a beta of 0.69. ResMed Inc. has a 52-week low of $148.03 and a 52-week high of $260.49. The company has a fifty day moving average of $242.62 and a 200 day moving average of $223.82.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 earnings per share. On average, analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed's dividend payout ratio is currently 28.08%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research note on Friday, October 25th. Bank of America lifted their price target on shares of ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Baird R W raised ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada lifted their price objective on ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and an average price target of $225.70.

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.