PNC Financial Services Group Inc. Sells 1,187 Shares of ResMed Inc. (NYSE:RMD)

PNC Financial Services Group Inc. lowered its position in ResMed Inc. (NYSE:RMD - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,416 shares of the medical equipment provider's stock after selling 1,187 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.06% of ResMed worth $21,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock worth $939,114,000 after acquiring an additional 380,383 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider's stock valued at $152,973,000 after buying an additional 250,746 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of 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 valued at $69,281,000 after buying an additional 249,454 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of ResMed in the fourth quarter worth about $50,364,000. Finally, Nordea Investment Management AB increased its holdings in shares of ResMed by 92.7% in 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 period. 54.98% of the stock is currently owned by institutional investors.

Remove Ads

ResMed Stock Down 1.7 %

ResMed stock traded down $3.82 on Wednesday, hitting $221.98. 303,849 shares of the stock traded hands, compared to its average volume of 970,235. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The firm has a market cap of $32.60 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. 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 business's fifty day simple moving average is $236.80 and its 200 day simple moving average is $240.13.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed's dividend payout ratio (DPR) is presently 25.03%.

Insiders Place Their Bets

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now directly owns 9,725 shares in the company, valued at approximately $2,327,289.75. This trade represents a 50.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the transaction, the director now owns 75,218 shares of the company's stock, valued at $17,127,890.78. This represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RMD shares. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They set a "buy" rating on the stock. Piper Sandler lifted their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. StockNews.com cut shares of ResMed from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Stifel Nicolaus decreased their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Finally, UBS Group upgraded shares of ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $243.82.

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.