FIL Ltd Sells 49,529 Shares of ResMed Inc. (NYSE:RMD)

FIL Ltd lessened its stake in ResMed Inc. (NYSE:RMD - Free Report) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 396,865 shares of the medical equipment provider's stock after selling 49,529 shares during the period. FIL Ltd owned about 0.27% of ResMed worth $90,759,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in ResMed by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock worth $4,156,089,000 after purchasing an additional 160,590 shares during the last quarter. Geode Capital Management LLC raised its stake in ResMed by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock worth $899,860,000 after buying an additional 85,270 shares during the last quarter. Invesco Ltd. lifted its holdings in ResMed by 32.2% in the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after buying an additional 566,046 shares during the period. Charles Schwab Investment Management Inc. boosted its position in ResMed by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock valued at $218,861,000 after acquiring an additional 32,973 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in ResMed by 60.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider's stock worth $152,973,000 after acquiring an additional 250,746 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RMD. Morgan Stanley assumed coverage on ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price objective on the stock. StockNews.com cut ResMed from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. The Goldman Sachs Group began coverage on shares of ResMed in a research note on Thursday, January 16th. They set a "buy" rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of ResMed from $270.00 to $286.00 and gave the stock an "overweight" 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 issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $249.73.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at $95,580,799.20. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares of the company's stock, valued at $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,013 shares of company stock valued at $11,298,816. 0.71% of the stock is owned by insiders.

ResMed Stock Down 0.5 %

RMD stock traded down $1.16 during mid-day trading on Tuesday, reaching $213.37. 257,772 shares of the company traded hands, compared to its average volume of 1,028,477. The firm's 50 day moving average price is $225.09 and its 200 day moving average price is $235.22. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The stock has a market cap of $31.34 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 1.53 and a beta of 0.75. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.99%. ResMed's dividend payout ratio is currently 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.