2Xideas AG decreased its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 30.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 93,505 shares of the medical equipment provider's stock after selling 40,752 shares during the period. ResMed accounts for 2.9% of 2Xideas AG's portfolio, making the stock its 6th largest position. 2Xideas AG owned approximately 0.06% of ResMed worth $21,384,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. Howard Capital Management Inc. raised its stake in shares of ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after buying an additional 45 shares during the period. SkyView Investment Advisors LLC increased its position in ResMed by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider's stock worth $637,000 after purchasing an additional 51 shares during the last quarter. Wedmont Private Capital raised its position in shares of ResMed by 2.6% during the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider's stock valued at $475,000 after buying an additional 52 shares in the last quarter. HighPoint Advisor Group LLC raised its position in ResMed by 2.6% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider's stock valued at $610,000 after purchasing an additional 64 shares during the period. Finally, Brooklyn Investment Group lifted its position in ResMed by 8.1% in the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider's stock worth $208,000 after buying an additional 68 shares during the last quarter. Institutional investors own 54.98% of the company's stock.
ResMed Trading Up 0.7 %
Shares of RMD traded up $1.54 on Friday, hitting $212.09. 423,496 shares of the stock traded hands, compared to its average volume of 1,014,131. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The firm has a market capitalization of $31.15 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.53 and a beta of 0.75. The stock's 50 day moving average is $226.19 and its two-hundred day moving average is $235.63. 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 announced its quarterly earnings results 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, sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.
ResMed Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 1.00%. ResMed's dividend payout ratio (DPR) is 25.03%.
Wall Street Analysts Forecast Growth
RMD has been the subject of several research analyst reports. UBS Group upgraded ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Stifel Nicolaus lowered their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased 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. StockNews.com lowered ResMed from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Finally, Morgan Stanley assumed coverage on shares of ResMed in a report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $249.73.
Check Out Our Latest Report on RMD
Insider Activity
In related news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now directly owns 9,725 shares in the company, valued at $2,289,265. This trade represents a 48.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,013 shares of company stock worth $11,298,816. 0.71% of the stock is currently owned by insiders.
ResMed Company Profile
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Free Report)
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.
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