Los Angeles Capital Management LLC Lowers Holdings in ResMed Inc. (NYSE:RMD)

Los Angeles Capital Management LLC trimmed its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 43.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 418,162 shares of the medical equipment provider's stock after selling 322,064 shares during the quarter. Los Angeles Capital Management LLC owned 0.28% of ResMed worth $102,082,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of ResMed by 51.4% in the second 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. Greenvale Capital LLP increased its stake in ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock worth $138,780,000 after purchasing an additional 275,000 shares during the period. Dimensional Fund Advisors LP increased its stake in ResMed by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider's stock worth $126,670,000 after purchasing an additional 107,279 shares during the period. Tandem Investment Advisors Inc. lifted its position in shares of ResMed by 3.0% during the second quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider's stock worth $95,976,000 after purchasing an additional 14,590 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of ResMed by 2.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 416,761 shares of the medical equipment provider's stock valued at $82,532,000 after purchasing an additional 11,908 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $246.42, for a total value of $246,420.00. Following the completion of the transaction, the chief financial officer now directly owns 96,812 shares of the company's stock, valued at $23,856,413.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Brett Sandercock sold 1,000 shares of the company'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 transaction, the chief financial officer now directly owns 96,812 shares of the company's stock, valued at $23,856,413.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $248.38, for a total value of $3,646,963.54. Following the sale, the chief executive officer now directly owns 464,169 shares of the company's stock, valued at approximately $115,290,296.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,260 shares of company stock valued at $14,887,967. 0.71% of the stock is currently owned by corporate insiders.

ResMed Stock Up 1.5 %

RMD stock traded up $3.84 during trading on Friday, reaching $252.38. 930,321 shares of the company traded hands, compared to its average volume of 1,155,854. ResMed Inc. has a 12 month low of $140.81 and a 12 month high of $260.49. The company has a market capitalization of $37.05 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 1.85 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The business has a 50 day simple moving average of $243.36 and a 200 day simple moving average of $222.35.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. ResMed's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 earnings per share. On average, equities research analysts anticipate that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Thursday, November 7th. ResMed's dividend payout ratio (DPR) is presently 28.08%.

Analyst Upgrades and Downgrades

Several research firms recently commented on RMD. Baird R W raised shares of ResMed to a "strong-buy" rating in a research note on Tuesday, September 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research note on Friday, October 25th. Robert W. Baird increased their price objective on ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Wolfe Research reaffirmed an "underperform" rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada increased their price target on ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $225.70.

ResMed Company 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.