Alliancebernstein L.P. Sells 60,454 Shares of ResMed Inc. (NYSE:RMD)

Alliancebernstein L.P. trimmed its position in ResMed Inc. (NYSE:RMD - Free Report) by 15.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 340,933 shares of the medical equipment provider's stock after selling 60,454 shares during the period. Alliancebernstein L.P. owned approximately 0.23% of ResMed worth $77,968,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RMD. Norges Bank acquired a new stake in shares of ResMed during the fourth quarter worth $118,605,000. Geode Capital Management LLC increased its stake in 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 purchasing an additional 380,383 shares in the last quarter. Los Angeles Capital Management LLC raised 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 buying an additional 250,746 shares during the period. Proficio Capital Partners LLC purchased a new stake in ResMed during the fourth quarter valued at about $50,364,000. Finally, Nordea Investment Management AB boosted 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. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $219.74, for a total transaction of $439,480.00. Following the completion of the sale, the director now directly owns 73,218 shares of the company's stock, valued at approximately $16,088,923.32. This trade represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value 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 $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,004 shares of company stock valued at $9,618,128 over the last ninety days. 0.71% of the stock is owned by corporate insiders.

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ResMed Stock Performance

Shares of NYSE:RMD traded down $1.44 on Tuesday, hitting $211.56. The company had a trading volume of 458,649 shares, compared to its average volume of 981,463. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. The stock has a 50 day moving average price of $229.90 and a 200 day moving average price of $236.73. 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 stock has a market cap of $31.07 billion, a price-to-earnings ratio of 24.97, a P/E/G ratio of 1.53 and a beta of 0.75.

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

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 1.00%. ResMed's payout ratio is 25.03%.

Analysts Set New Price Targets

A number of equities analysts recently commented on RMD shares. StockNews.com lowered shares of ResMed from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. The Goldman Sachs Group initiated coverage on ResMed in a research report on Thursday, January 16th. They issued a "buy" rating on the stock. Morgan Stanley initiated coverage on shares of ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. One research 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $249.73.

About ResMed

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.