American Century Companies Inc. Sells 19,353 Shares of ResMed Inc. (NYSE:RMD)

American Century Companies Inc. lowered its stake in ResMed Inc. (NYSE:RMD - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 161,369 shares of the medical equipment provider's stock after selling 19,353 shares during the quarter. American Century Companies Inc. owned about 0.11% of ResMed worth $36,903,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RMD. True Wealth Design LLC raised its holdings in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 110 shares during the period. OFI Invest Asset Management acquired a new stake in ResMed during the 4th quarter worth $39,000. BankPlus Trust Department acquired a new stake in ResMed during the 4th quarter worth $44,000. Rosenberg Matthew Hamilton bought a new position in ResMed during the fourth quarter worth about $54,000. Finally, SBI Securities Co. Ltd. acquired a new position in ResMed in the fourth quarter valued at about $67,000. 54.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on RMD. UBS Group upgraded ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. Stifel Nicolaus dropped their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Finally, Piper Sandler increased their target price on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed currently has an average rating of "Moderate Buy" and a consensus price target of $249.73.

Remove Ads

ResMed Stock Down 1.3 %

RMD stock traded down $2.81 during mid-day trading on Tuesday, reaching $221.05. The company had a trading volume of 83,292 shares, compared to its average volume of 999,929. The company has a market capitalization of $32.46 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The stock has a 50 day simple moving average of $233.37 and a two-hundred day simple moving average of $237.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

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

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were issued 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 was Thursday, February 13th. ResMed's payout ratio is currently 25.03%.

Insiders Place Their Bets

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the transaction, the insider now directly owns 9,725 shares of the company's stock, valued at $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock valued at $9,164,385 over the last 90 days. 0.71% of the stock is currently owned by insiders.

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.