Dynamic Technology Lab Private Ltd Cuts Position in ResMed Inc. (NYSE:RMD)

Dynamic Technology Lab Private Ltd trimmed its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 59.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,408 shares of the medical equipment provider's stock after selling 5,101 shares during the period. Dynamic Technology Lab Private Ltd's holdings in ResMed were worth $779,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RMD. Resona Asset Management Co. Ltd. acquired a new position in shares of ResMed during the 4th quarter worth $9,895,000. Wells Fargo & Company MN grew its position in ResMed by 2.4% during the fourth quarter. Wells Fargo & Company MN now owns 151,180 shares of the medical equipment provider's stock worth $34,573,000 after buying an additional 3,568 shares during the period. Kidder Stephen W purchased a new position in ResMed in the fourth quarter valued at about $203,000. Prudential PLC increased its holdings in ResMed by 7.9% in the fourth quarter. Prudential PLC now owns 18,995 shares of the medical equipment provider's stock valued at $4,344,000 after buying an additional 1,392 shares in the last quarter. Finally, Landscape Capital Management L.L.C. lifted its position in shares of ResMed by 59.6% during the 4th quarter. Landscape Capital Management L.L.C. now owns 20,609 shares of the medical equipment provider's stock valued at $4,713,000 after acquiring an additional 7,693 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction 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 directly owns 455,472 shares of the company's stock, valued at $95,580,799.20. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the company'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 sale, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,013 shares of company stock valued at $11,298,816 in the last 90 days. 0.71% of the stock is currently owned by insiders.

Remove Ads

ResMed Trading Up 0.3 %

RMD stock traded up $0.69 during midday trading on Friday, hitting $211.24. The stock had a trading volume of 261,766 shares, compared to its average volume of 999,674. The company's 50-day moving average price is $226.19 and its 200 day moving average price is $235.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm has a market cap of $31.02 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data 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%. On average, equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed's dividend payout ratio (DPR) is 25.03%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. KeyCorp raised their price objective on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Morgan Stanley started coverage on ResMed in a research note on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price target for the company. Piper Sandler increased their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus cut their target price on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and an average target price of $249.73.

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.