Virtu Financial LLC Decreases Stake in ResMed Inc. (NYSE:RMD)

Virtu Financial LLC lessened its stake in ResMed Inc. (NYSE:RMD - Free Report) by 55.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,805 shares of the medical equipment provider's stock after selling 4,761 shares during the period. Virtu Financial LLC's holdings in ResMed were worth $929,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its position in ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock worth $1,528,590,000 after purchasing an additional 116,918 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider's stock valued at $1,105,022,000 after buying an additional 1,959,642 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock valued at $939,114,000 after buying an additional 380,383 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in ResMed by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider's stock valued at $225,578,000 after acquiring an additional 13,985 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in ResMed by 0.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider's stock worth $181,237,000 after acquiring an additional 2,406 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on RMD shares. Bank of America increased their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research note on Friday, October 25th. Royal Bank of Canada boosted their price objective on ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. Finally, Baird R W upgraded ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $227.91.

ResMed Trading Down 1.6 %

RMD stock traded down $3.99 during trading on Friday, reaching $238.52. 580,589 shares of the stock were exchanged, compared to its average volume of 1,019,118. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $35.01 billion, a price-to-earnings ratio of 31.59, a P/E/G ratio of 1.78 and a beta of 0.68. The business has a 50 day moving average price of $242.75 and a 200-day moving average price of $227.45. ResMed Inc. has a 1 year low of $164.12 and a 1 year high of $260.49.

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 the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts predict that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were given a $0.53 dividend. The ex-dividend date was Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. ResMed's payout ratio is currently 28.08%.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $231.91, for a total value of $3,405,134.53. Following the completion of the transaction, the chief executive officer now owns 464,169 shares of the company's stock, valued at approximately $107,645,432.79. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $233.47, for a total transaction of $233,470.00. Following the completion of the transaction, the chief financial officer now owns 95,812 shares of the company's stock, valued at $22,369,227.64. This trade represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,725 shares of company stock worth $11,253,448 over the last three months. Insiders own 0.71% of the company's stock.

ResMed Company 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.