Versor Investments LP Sells 2,400 Shares of ResMed Inc. (NYSE:RMD)

Versor Investments LP lessened its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 51.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,300 shares of the medical equipment provider's stock after selling 2,400 shares during the period. Versor Investments LP's holdings in ResMed were worth $561,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMD. UMB Bank n.a. grew its stake in shares of ResMed by 1.9% in the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider's stock valued at $602,000 after buying an additional 47 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in ResMed by 3.7% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider's stock worth $292,000 after purchasing an additional 52 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of ResMed by 4.5% during the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider's stock worth $247,000 after buying an additional 56 shares during the last quarter. Inspire Advisors LLC lifted its holdings in shares of ResMed by 1.9% during the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider's stock worth $586,000 after buying an additional 56 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider's stock worth $469,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Wall Street Analyst Weigh In

RMD has been the subject of a number of recent research reports. KeyCorp upped their target price on ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Robert W. Baird raised their price target on ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a report on Friday, October 25th. Royal Bank of Canada increased their target price on ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Finally, Wolfe Research reaffirmed an "underperform" rating and set a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $225.70.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the sale, the director now directly owns 87,204 shares of the company's stock, valued at approximately $20,920,239.60. This trade represents a 2.24 % 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, General Counsel Michael J. Rider sold 882 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the sale, the general counsel now directly owns 10,512 shares of the company's stock, valued at $2,428,272. The trade was a 7.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,056 shares of company stock worth $15,086,020. Corporate insiders own 0.71% of the company's stock.

ResMed Price Performance

RMD stock traded down $4.01 during midday trading on Thursday, reaching $231.43. 1,084,139 shares of the stock were exchanged, compared to its average volume of 1,048,849. The stock has a market capitalization of $33.97 billion, a PE ratio of 30.65, a P/E/G ratio of 1.81 and a beta of 0.69. ResMed Inc. has a 52 week low of $147.31 and a 52 week high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The company has a fifty day moving average price of $243.30 and a 200 day moving average price of $223.37.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company posted $1.64 EPS. ResMed's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts expect that ResMed Inc. will post 9.22 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.92%. ResMed's payout ratio is currently 28.08%.

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.